- Oil prices rose as flows through the Strait of Hormuz recovered to nearly 80% of pre-war levels, though trading remained choppy.
- Middle East tensions persisted, keeping a bid under crude prices and driving investors toward safety.
- The dollar jumped to near a new high for the year as higher oil prices and Middle East tensions prompted safe-haven flows.
Quotes
“Oil prices have been choppy as the flow of oil through the Strait of Hormuz has returned to nearly 80% of pre-war levels.”
“The dollar jumped Wednesday as higher oil prices and heightened tensions in the Middle East prompted investors to flock to safety.”