Why are oil prices up today, and will Brent, US WTI crude futures continue to rise or fall again? Oil prices gained more than 2% after a cargo ship was struck near Oman, raising concerns over crude shipments through the Strait of Hormuz. Brent and US WTI crude futures moved higher as traders reacted to supply risks, technical buying, and uncertainty surrounding Iran, shipping security, and global oil exports.

Why are oil prices up today, and will Brent, US WTI crude futures continue to rise or fall again? Oil prices gained more than 2% after a cargo ship was struck near Oman, raising…

Brent rebounded to close near US$75 after earlier erasing all of its wartime gains in the session. Read more at straitstimes.com. Read more at straitstimes.com.