The Economic Times

Why is oil price up today, and will Brent crude futures and US West Texas Intermediate go above $102 or drop again? Analysts insights, market outlook and what should investors do now

Why is oil price up today, and will Brent crude futures and US West Texas Intermediate go above $102 or drop again? Oil crossed $100 after the United States announced a blockade on Iranian shipping. Middle East supply risks, rising inflation, higher dollar, and falling stocks pushed markets into risk-off mode. Investors now watch central bank rate decisions and geopolitical developments.