WTI crude oil futures rose toward $64 per barrel on Thursday, advancing for a third straight session to levels not seen since late September, after US warnings of potential military action if Iran does not reach a nuclear agreement heightened concerns over supply disruptions. President Donald Trump said a large US naval force in the region stands ready to act “with speed and violence, if necessary,” adding to worries that conflict could disrupt crude shipments from the Middle East, a region responsible for roughly one-third of global supply. Potential Iranian retaliation could also target shipping through the Strait of Hormuz, a key chokepoint for oil and LNG cargoes. Iran says it is open to dialogue but warns of an unprecedented response if provoked, while stepping up diplomacy with regional powers to avert further conflict. Elsewhere, the US dollar fell to its lowest in nearly four years, making dollar-denominated commodities more attractive to buyers.
