Energy Preview: Crude oil stays well supported

Crude futures stayed well supported in volatile trades yesterday as the conflict between ​the US and Iran seemed to be intensifying in the Strait of Hormuz. WTI crude futures rose near $100 ‌barrel, testing best level in two weeks before a moderation. The counter currently quotes at $96.50 per barrel, up around half a percent on the day. Sentiments were cautious after US President Donald Trump said in a post that he had ordered the US Navy to shoot and kill any boat mining the strait.

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