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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InWTI crude oil prices maintained their upward momentum, trading near the $74.80 per barrel mark. This performance marks the third consecutive session of gains for the commodity as market participants weigh ongoing geopolitical risks. The primary driver remains the conflict in the Middle East, which continues to threaten the stability of strategic maritime routes. Specifically, persistent supply disruptions through the Strait of Hormuz, a vital global oil chokepoint, have heightened concerns over supply availability. Analysts suggest that a geopolitical risk premium is increasingly being priced into oil futures across international markets. Consequently, the short-term outlook remains supported by these potential bottlenecks in global supply chains.