West Texas Intermediate (WTI) crude oil prices climbed to nearly $90 per barrel on Monday during Asian trading hours, driven by escalating tensions between the US and Iran. This increase follows a period of previous losses in the commodity's price.
According to FX Street, the crude oil price hovered around this level as geopolitical concerns heightened, reflecting market sensitivity to potential disruptions in oil supply.
For Japanese investors, who are heavily reliant on energy imports, such fluctuations in crude prices are closely watched as they can impact domestic fuel costs and broader market sentiment.