WS #16140
Brent crude has breached the $110 level, driven by an IRGC threat to close the Strait of Hormuz and confirmed Ukrainian drone strikes on Russian oil infrastructure in the Tambov region. This supply shock is weighing heavily on European equities and pushing up energy costs, creating a headwind for global growth. The threat of a wider regional conflict is forcing traders to price in significant supply disruption risks.
Middle East Escalation and Oil Shock
Brent crude has breached the $110 level, driven by an IRGC threat to close the Strait of Hormuz and confirmed Ukrainian drone strikes on Russian oil infrastructure in the Tambov region. This supply shock is weighing heavily on European equities and pushing up energy costs, creating a headwind for global growth. The threat of a wider regional conflict is forcing traders to price in significant supply disruption risks.