Oil prices held near $87 for Brent as U.S.-Iran tensions and uncertainty around the Strait of Hormuz kept a supply risk premium in place. Brent and WTI were up about 4% this week, but weaker demand forecasts and rising U.S. inventories capped gains. Traders should watch Hormuz flows and inventory data for the next directional cue.
Oil Holds Weekly Gains as Hormuz Risk Keeps Supply Premium Elevated
