WS #15741
Crude oil futures settled 2.06% higher at $93.74/bbl following reports of Houthi rebels striking Saudi airports and a growing number of empty supertankers avoiding the Persian Gulf. The escalation is compounded by Ukraine casting doubt on an energy ceasefire, creating a dual-front supply threat. This development dampens any bullish thesis on consumer discretionary and airline sectors, while reinforcing the bearish outlook for global shipping costs and inflation.
Middle East Energy Crisis
Crude oil futures settled 2.06% higher at $93.74/bbl following reports of Houthi rebels striking Saudi airports and a growing number of empty supertankers avoiding the Persian Gulf. The escalation is compounded by Ukraine casting doubt on an energy ceasefire, creating a dual-front supply threat. This development dampens any bullish thesis on consumer discretionary and airline sectors, while reinforcing the bearish outlook for global shipping costs and inflation.