Global oil markets closed mixed on Tuesday, as geopolitical tensions and concerns over supply disruptions around the Strait of Hormuz continued to influence trading sentiment. Moreover, uncertainty surrounding maritime flows supported gains in international crude benchmarks despite weakness in US contracts.
Brent crude futures rose $3.44, or 3.58%, to settle at $99.58 a barrel on the ICE Futures Europe. Therefore, the global benchmark recovered strongly as traders assessed ongoing risks to energy shipments across the Gulf region.
However, US benchmark crude moved lower during the session. West Texas Intermediate (WTI) crude for July delivery settled at $93.89 per barrel on the New York Mercantile Exchange, down 2.81% compared with Friday’s close.
Additionally, market participants continued to monitor developments tied to regional tensions, shipping security, and supply chain stability. As a result, volatility remained elevated across energy markets, with investors balancing geopolitical risks against expectations for future supply recovery.
