WTI crude fell to its 52-week low of $64.78 per barrel on Sep. 10, 2024. It reached its 52-week high of $91.09 on Oct. 20, 2023. That’s 21.47% higher than the current futures price.

Oil prices edged up on Wednesday on worries that the escalating conflict in the Middle East could threaten oil supplies from the world's top producing region, but a large build in U.S. crude inventories limited gains.

Intensifying tensions between Iran and Israel that threatens oil inventory in Iran; Houthi rebel attacks in the Red Sea that could limit oil supply and deliveries; Since markets a

WTI futures traded around $73.94 per barrel, as of 9 a.m. ET. That’s an increase of 3.37% in the last 24 hours.

Oil prices were on track for weekly gains of 9% as investors feared a wider Middle East conflict could disrupt crude flows after President Joe Biden said the United States was discussing an Israeli attack on Iranian oil facilities.

Crude prices jumped on worries about worsening tensions in the Middle East, while U.S. stocks pulled back further from their records