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Energy Preview: WTI crude oil futures edge up amid renewed geopolitical tensions
12-May-2026 09:16

WTI crude oil futures are seen edging up on Tuesday morning in Asia following an extended period of decline amid renewed geopolitical tensions in the Middle East. President Donald Trump has reportedly said the US-Iran ceasefire was on 'massive life support' after dismissing Tehran's latest peace proposal, fueling concerns that the Strait of Hormuz may stay effectively closed for an extended period. Weekly oil inventory data is now is focus. The counter is currently seen quoting at $98.88 per barrel.

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