Overview

• Brent crude rose 0.3% to $76.71 per barrel and U.S. West Texas Intermediate gained 0.5% to $75.19 on heightened supply concerns.
• The U.S. military has deployed additional fighter aircraft to the Middle East to bolster forces as Iran and Israel intensify their air campaign.
• Traders are closely watching the Strait of Hormuz, where about 20 million barrels of oil transit daily, for signs of potential disruption.
• OPEC+ producers hold roughly 5.7 million barrels per day of spare capacity that could offset any sudden shortfall in Iranian exports.
• Analysts warn that oil-driven inflation and escalating geopolitical risks could shape the Federal Reserve’s upcoming rate decisions.