WTI crude oil prices halted their recent decline on Friday, trading around $75.60 per barrel, up 0.21% for the day, according to FX Street. This pause comes as crude shipments through the Strait of Hormuz have resumed, easing some of the pressure on oil markets.
Despite the slight gain, WTI remains under pressure after a sharp drop earlier this week. The resumption of shipments through this critical chokepoint is seen as a key factor supporting prices.
For Japanese markets, where energy imports are vital, the stabilization of oil prices provides some relief amid ongoing volatility in global commodities.