Crude Oil is trading at $77.64, up 3.22%, as Strait of Hormuz reopening remains uncertain.
- Rebounded after three consecutive losing sessions as geopolitical risk returned to focus.
- Iran and Oman’s proposed shipping arrangement does not guarantee a full reopening; reported Houthi attacks on Saudi oil tankers sustain supply-disruption concerns.
- The move is primarily sector-driven, with traders restoring a risk premium despite broader U.S. equity weakness.