Crude oil prices have risen amid concerns about potential supply disruptions in the Middle East, particularly through the Strait of Hormuz. Brent and WTI benchmarks remain at elevated levels compared to earlier in the year. Japan’s Nikkei 225 index fell 2.7% following Wall Street’s decline, reflecting broader risk-off sentiment in equity markets. Market participants are closely monitoring statements from OPEC officials, including Secretary General Mohammad Sanusi Barkindo, as well as Saudi Energy Minister Abdulaziz bin Salman Al Saud. Any geopolitical developments affecting the Strait of Hormuz could significantly impact oil market pricing.
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