WTI Crude Climbs Above $93 Per Barrel for Fourth Consecutive Day Amid U.S.-Iran Tensions

According to reports, on Thursday, WTI crude oil futures climbed above $93 per barrel for the fourth consecutive trading day, driven by ongoing U.S.-Iran tensions and effective blockade of the Strait of Hormuz. The waterway remains under Iranian control, with Tehran limiting nearly all international shipping traffic.

Meanwhile, the United States continues to blockade Iranian ports to increase pressure, while Tehran accuses Washington of violating the ceasefire agreement. According to U.S. Energy Information Administration data, American refined product inventories declined, indicating robust domestic consumption and export demand.