Oil prices dip after 3-week high amid Middle East tensions
Business
Oil prices just took a dip after hitting their highest point in three weeks.
Brent crude dropped 1.3% to $104.70 per barrel, and US WTI slid 1.07% to $94.07.
This comes right after a surge driven by Middle East tensions, like Iran threatening ships near the Strait of Hormuz and the Houthis attacking Saudi Aramco's headquarters.
Investors weigh sanctions and shipping disruptions
Geopolitical drama is making oil markets jumpy. Investors are watching for possible US sanctions changes and weighing whether shipping disruptions could get worse or if the US easing sanctions on oil-carrying vessels.
All this uncertainty is keeping oil prices on a roller coaster as everyone tries to guess what happens next with global supply.