The Price of WTI and Brent Oil Fluctuates Upwards as the Media Reports the Impending U.S. Operation in Hormuz Strait

BlockBeats News, May 4th, according to Bitget market data, the prices of both US Crude Oil and Brent Crude Oil rose during the day. WTI Crude Oil surged over 2.00% to $104.22 per barrel, while Brent Crude Oil increased by 0.43% to above $108 per barrel after experiencing a drop of over 2% earlier.

On the news front, it is reported that the so-called American Hormuz Operation will begin in a few hours. Meanwhile, a spokesperson for the Iranian Ministry of Foreign Affairs stated that the current discussions on uranium enrichment are mere speculation. Our current negotiations do not involve other matters, only ending the war. We are in talks with Oman and must establish a security protocol for ships to pass through the Strait of Hormuz.