WTI crude oil futures on the NYMEX continued their recent recovery, reaching levels close to $77.80. This upward move reflects escalating internal war risks in the Middle East, which have heightened uncertainties around global energy supplies, according to FX Street.
Over the last two weeks, WTI has seen volatility with prices climbing by almost 20% amid geopolitical tensions. The latest price action on Thursday extended this recovery momentum as traders remain cautious about potential disruptions in the region.
For Japanese markets, where energy imports are a significant factor, these developments underscore the ongoing sensitivity of commodity prices to geopolitical events, influencing FX and equities sectors tied to energy costs.