Oil traders barely batted an eyelid after the United States carried out a fresh wave of strikes against Iran on Wednesday, but their optimism is set to be tested as oil reserves near breaking point.
Brent Crude traded near $US92 a barrel on Wednesday, having traded close to the middle of its 20-year price range for the best part of a month. It comes as oil markets wait for news of a ceasefire and a possible reopening of the Strait of Hormuz even as hostilities ramp up across the region.
Loading…