July 10, 2025--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Even before the brief conflict between Iran and Israel, geopolitical risk was enough to warrant an upward revision in crude oil prices, the U.S. government said. West Texas Intermediate (WTI), the U.S. benchmark for the price of oil, was trading at around $68.50 per barrel early Wednesday, up slightly from the prior settle. WTI had dipped below $60 per barrel this year on concerns that U.S. trade policies would undermine global growth.
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