WTI Crude Briefly Hits $105.21 After Trump Threatens Iran Over Strait of Hormuz
A CIBC trader said the oil market is still missing 10 million to 12 million barrels a day, while Monday’s close marked the highest level since 2022.
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Terms & Concepts
- WTI crude futures: Oil derivatives contracts tied to West Texas Intermediate, a key U.S. benchmark for crude prices.
- Strait of Hormuz: A major oil shipping chokepoint through which a large share of global crude exports passes.