From CoinDesk
8 minutes ago · 7:21 a.m. EDTOmkar GodboleShare this postX iconX (Twitter)LinkedInFacebookEmailOil reverses early drop as U.S. issues security alerts across Middle East nations
Oil prices have bounced from Asian session lows on fears of a fresh escalation in Middle East geopolitical tensions.
WTI futures have recovered to $98.55, down just 0.5% on the day, after hitting a low of $96.72 during Asian hours. Bitcoin BTC$82,182.32 and ether ETH$2,417.23 have erased their early gains.
A few hours ago, the U.S. reportedly issued warnings across 12 locations in the Middle East, warning it citizens of potential flight cancellations and airspace closures. The warning covers Saudi Arabia, the United Arab Emirates (UAE), Kuwait, Jordan, Bahrain, Oman, Iran, Qatar, Iraq, Lebanon, Yemen and Israel/Jerusalem.
This has triggered fears of fresh U.S. strikes on Iran and continued disruption of oil flow through the pivotal Strait of Hormuz.