WTI crude oil prices rose above $98.50 per barrel, extending gains for the second consecutive day amid ongoing concerns about supply disruptions in the Middle East. During Asian trading hours on Tuesday, prices hovered around $98.60 per barrel, according to FX Street.
The upward momentum reflects heightened market sensitivity to geopolitical tensions affecting oil-producing regions, which continue to influence global energy markets. FX Street reported that this price movement underscores the persistent uncertainty clouding supply stability.
For Japanese investors, the rise in oil prices could impact energy-related equities and inflation expectations, factors closely watched by market participants and policymakers alike.