| 05 Mar 2026 17:37 | | WTI crude oil futures stay well supported | | | WTI crude oil futures surged more than 4% toward $78 per barrel on Thursday, approaching their highest level since late January, as escalating Middle East tensions disrupted global oil supplies and shipping through the Strait of Hormuz, a key chokepoint for oil and LNG. Since the conflict involving Iran began, Brent crude has climbed by nearly 15% to above $84 per barrel, the highest level since July 2024, intensifying inflation and supply concerns. Asia faces heightened risks, with more than 80% of LNG passing through the strait destined for the region, prompting China to lean on strategic reserves and alternatives, while India’s low crude reserves increase vulnerability. | | Powered by Capital Market - Live News |
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