Overview

• Brent futures rose 0.25% to $76.64 per barrel while West Texas Intermediate gained 0.31% to $75.07
• President Donald Trump demanded Iran’s unconditional surrender and publicly signaled readiness for further military strikes
• Washington has deployed additional fighter aircraft to the region to bolster deterrence and protect allied forces
• Analysts warn that any disruption in the Strait of Hormuz, which carries about a fifth of seaborne oil, could send prices sharply higher
• Federal Reserve officials are expected to keep interest rates unchanged but may telegraph earlier cuts to offset inflationary pressures from rising oil costs