WS #12869
Oil prices slump sharply (WTI -7.5%, Brent -9.14%) amid Kazakhstan CPC restart and demand concerns, while Houthi attacks and Iran drone strikes keep supply risks elevated. Iran conducts drone strikes on Erbil, Houthi attacks on Saudi oil infrastructure continue, and Bab el-Mandeb traffic drops to 11 vessels, keeping geopolitical risk elevated.
Oil price collapse and supply dynamics
Oil prices slump sharply (WTI -7.5%, Brent -9.14%) amid Kazakhstan CPC restart and demand concerns, while Houthi attacks and Iran drone strikes keep supply risks elevated.
Iran conducts drone strikes on Erbil, Houthi attacks on Saudi oil infrastructure continue, and Bab el-Mandeb traffic drops to 11 vessels, keeping geopolitical risk elevated.