Commodities
Home›Commodities›Energy›WTI holds near $91.75 as Middle East troop plans weigh
WTI holds near $91.75 as Middle East troop plans weigh
WTI flatlined after a two-day gain, as traders balanced improving Middle East flows against escalation risk tied to potential new deployment to the Persian Gulf, with analysts citing low inventories after six months of drawdowns.
West Texas Intermediate, the US crude benchmark, traded around $91.75 during early Asian hours on Friday, after flattening following a two-day gain, according to FXStreet.
The move reflected market attention on US plans to send additional military assets to the Middle East, after the Wall Street Journal reported the Pentagon may deploy a third aircraft-carrier strike group and 10,000 sailors and Marines to the Persian Gulf.
FXStreet cited ANZ Group Holdings Ltd. analysts Brian Martin and Daniel Hynes, who said the oil market is vulnerable to another price spike given inventories at low levels after six months of drawdowns.
The analysts added that investors are increasingly concerned Iran could respond to the buildup with attacks on US assets and energy infrastructure in the region, keeping prices sensitive to potential escalation.
Latest closeWTI crude $90.46 ▲1.2%