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Energy Preview: Crude oil futures add further gains as supply risks intensify
22-Jul-2026 08:52

WTI crude oil futures add to recent streak of gains on Wednesday morning in Asia amid prevailing conditions in Middle East worsen supply risks. President Donald Trump reportedly dismissed the likelihood of imminent talks with Iran, warning of additional military strikes while pledging swift retaliation if Tehran-backed Houthi rebels in Yemen act on threats to disrupt commercial shipping through the Red Sea. The counter is currently quoting at $85.25 per barrel, up around1% on the day. Brent oil is also up more than 1% at $92.08 per barrel. Meanwhile, US crude oil inventories posted an unexpected build of 2.603 million barrels in the week ending July 17.

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