Oil Approaches $90 as Geopolitical Risks Support Prices

Oil prices have risen to around $89.42 per barrel, supported by geopolitical risks and limited shipping through the Strait of Hormuz. The increase occurs despite a decline in fundamental demand, as concerns over potential supply disruptions persist. If Brent crude sustains levels above $90, it could heighten inflation expectations and negatively influence market sentiment. The ongoing geopolitical tensions in the region continue to exert upward pressure on oil prices, reflecting market sensitivity to supply-side risks.