Crude oil prices closed the session with minimal movement on Wednesday, as traders digested the United States' decision to reimpose a naval blockade on Iranian ports.
Despite the escalation in geopolitical rhetoric, the market failed to sustain the initial upward momentum seen earlier in the day, leaving both Brent and WTI benchmarks largely unchanged by the close.
This hesitation follows a period of volatility where Brent crude had previously climbed to $84.
The muted reaction suggests that investors are increasingly skeptical of the long-term impact of US naval measures on global supply chains.
While the blockade reintroduces a layer of risk to shipping routes through the Strait of Hormuz, the absence of immediate physical disruptions has prevented a sustained repricing of supply risk.
Markets appear to be waiting for concrete evidence of logistical bottlenecks before committing to higher price levels.
This hesitation follows a period of volatility where Brent crude had previously climbed to $84.80 per barrel, marking a 1.8% gain and reaching its highest level in four weeks.