WTI crude futures held near $107 per barrel on Thursday, stabilizing after a brief climb toward $111 as markets responded to reports that US President Donald Trump will be updated on expanded military options for Iran. According to Axios, US Central Command chief Admiral Brad Cooper is set to deliver the briefing, a step seen as a clear signal that a new phase of combat operations is under serious consideration. A plan for a short, intense wave of airstrikes is reportedly among the options being reviewed.
Geopolitical tensions remain high despite a ceasefire that has largely held since early April. Mutual US and Iranian blockades have effectively closed the Strait of Hormuz, choking off a significant share of global oil shipments and triggering what the International Energy Agency has described as an unprecedented supply shock. At the same time, US crude exports have climbed to record highs as buyers around the world scramble to secure alternative sources of supply.
