Oil prices fluctuate amid geopolitical tensions and supply risks
after close1 source ↓written by the desknot a recommendation
- prices fluctuated
- $89 a barrel
- this month
- 20% rally
Brent oil prices fluctuated around $89 a barrel, after a 20% rally this month, as traders assessed risks from the Strait of Hormuz and the Red Sea. The US continued strikes on Iran, while Yemen's Houthi militants threatened to blockade Saudi maritime traffic, raising concerns over supply disruptions. Additionally, disruptions at the Caspian Pipeline Consortium terminal add to the uncertainty in oil markets.
Not investment advice. For informational purposes only.