WTI consolidates below $72 amid US-Iran tensions
The post WTI consolidates below $72 amid US-Iran tensions appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI) – the benchmark US Crude Oil price – steadies during the Asian session on Friday, stalling the previous day’s downfall amid mixed messaging from the US and Iran. The commodity currently trades around the $71.75 area, nearly unchanged for the day, as traders await further developments surrounding the Middle East crisis. The geopolitical risk premium resurfaced this week after the US military unleashed a new wave of strikes against Iran earlier this week in retaliation for Tehran’s attacks on commercial ships in the Strait of Hormuz. Iran responded by targeting American allies and bombing US military installations across Bahrain and Kuwait. Moreover, US President Donald Trump signaled the end of the ceasefire on Wednesday, which, in turn, led to a rally in Crude Oil prices during the first half of the current week. The market anxiety, however, subsided after Trump