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Galaxy Futures: Crude Oil Intraday Volatility Increases, US Commits to Escorting Oil Tankers
The United States has promised to provide insurance guarantees and naval escort for ships passing through the Strait of Hormuz. International oil prices have retraced their gains intraday. Iraq’s large oil fields have begun halting production. Federal Reserve officials say the Iran war adds new uncertainties to monetary policy decisions, making energy price outlooks crucial. Currently, Iran’s stance is firm, and the situation is developing rapidly, requiring ongoing attention to geopolitical changes. Brent crude oil is expected to trade between $79 and $85 per barrel. (Galaxy Futures)