SKN | Could Renewed Middle East Tensions Push Oil Back Toward $100?
Commodities Oil Rebounds as Geopolitical Risks Return Crude oil recovered from an early-session decline on Tuesday as renewed concerns about Middle Eastern supply security offset evidence that physical oil flows are improving. Oil had fallen below $87 a barrel before recovering toward $89.5, highlighting the market’s sensitivity to developments around key regional shipping and production routes. A Saudi-led coalition said it had intercepted and destroyed a ballistic missile launched by the Houthis toward Khamis Mushait in Saudi Arabia. At the same time, reports indicated that Iran had increased attacks on tankers traveling through the Strait of Hormuz in recent days. Such developments have the potential to raise transportation, insurance and supply risks even when crude continues to move through the region. […]
