Oil Prices Rally on Renewed Hormuz Supply Risks | EN590 Commodities
EN590 Commodities GroupCrude Oil July 10, 2026
India’s State Nuclear Firm In Search of Global Uranium Assets August WTI crude oil traded higher during the week ending July 10, with prices last at $71.84 through Thursday evening, up $3.38, or 4.94%. The contract posted a wide weekly range, climbing from a low of $67.82 to a high of $76.08 before pulling back late Thursday. The week's advance was driven by one dominant theme: growing concern over global oil supplies. Traders added a larger risk premium to crude prices as renewed geopolitical tensions in the Middle East raised questions about the security of oil shipments through the Strait of Hormuz. Those concerns outweighed bearish pressure from another OPEC+ production increase and an unexpected build in U.S. crude inventories. Although prices retreated from their weekly highs, the ma
About EN590 Commodities Group
25+ years in mineral exploration and extraction. 15+ years of global commodity trading. Based in New York, USA serving 75+ countries.