Oil Prices Remain Stable - Market Responds Calmly to New Tensions Between the US and Iran
Oil prices remained virtually unchanged on Wednesday as the market took a relatively calm view of the renewed military confrontation between the US and Iran over the past few days.
Brent crude oil prices fluctuated around $91.40 per barrel, while American WTI prices stood at $88.19. Despite price gains during the Asian trading session, the pace of growth slowed throughout the day.
According to Iran's statement, the country launched strikes against several American military bases located in Jordan and several Gulf states. This was a response to US airstrikes that followed the downing of an American Apache-type helicopter. Washington blames Iran for the incident, though Tehran denies responsibility.
Meanwhile, Israel continues military operations in southern Lebanon, where it faces the Iran-backed group Hezbollah.
Despite the new military escalation, analysts note that the market is not currently viewing events as a significant risk. According to their assessment, developments over the past 48 hours have had only limited impact on the oil market.
Investors continue to hope that the US and Iran will ultimately reach a peace agreement, which would help open the Strait of Hormuz. This strait is a critically important route for the transit of approximately 20% of global oil, and any prolonged disruption would increase pressure on energy carrier prices.
Market attention is also focused on US inflation data, as rising oil prices could impact consumer prices and push central banks toward raising interest rates.
Additionally, according to data from the American Petroleum Institute, the country's crude oil reserves declined by 9.12 million barrels last week, significantly exceeding analysts' forecasts. The market is now awaiting official data from the US Energy Information Administration to confirm the trend of declining inventories.
