Oil Prices Remain Volatile as Hormuz Tensions Rise

Oil markets remained volatile in early Asian trade on Monday as Trump attempts to form a broader coalition of countries to protect shipping through the Strait of Hormuz amid fresh attacks on energy infrastructure across the Middle East. At the time of writing, West Texas Intermediate had dipped 0.53% to $98.19 after an initial surge, while Brent was continuing its climb, rising 0.41% to $103.60 per barrel. The volatility follows a weekend of escalation in the Middle East conflict, beginning on Friday evening when the U.S. bombed military assets…