WTI rises above $98.50 amid Middle East supply fears
West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $98.60 per barrel during the Asian hours on Tuesday. Crude oil prices appreciate as traders continue to navigate heightened uncertainty over global supply. Saudi Arabias East-West pipeline, which provides an alternative route to the Strait of Hormuz, remains shut following drone attacks, with no clear indication of when operations will resume. A diplomatic meeting between Iran and the Gulf Arab states to discuss the situation in Hormuz was also abruptly postponed. Meanwhile, Iran claimed that a supertanker attempting to enter a restricted area in Hormuz exploded after striking mines, while maintaining that it would not engage in talks with the US until its demands are met. Discover more NEWS Compare Exchange Rates News In Eastern Europe, President Volodymyr Zelenskyy said Ukraine is prepared to halt attacks on Russian energy targets if Russia does the same, contradicting US President Donald Trump‘s claim that Moscow and Kyiv had already agreed to suspend strikes against each other’s energy infrastructure. Trend followers stay fully loaded in oil complex According to TD Securities, trend-following commodity trading advisors remain heavily committed to the energy complex, with the bank noting that “CTAs remain max long across crude oil, diesel and









