WS #16310
Brent crude jumped to a five-month high of $112 following attacks on Saudi oil fields and Iranian strikes on tankers in the Strait of Hormuz. The Trump administration's announcement to release a third of its northeastern emergency diesel reserves provides a partial buffer against supply disruption, dampening the immediate bearish impact on the broader index but failing to fully neutralize the geopolitical risk premium.
Middle East Oil Shock
Brent crude jumped to a five-month high of $112 following attacks on Saudi oil fields and Iranian strikes on tankers in the Strait of Hormuz. The Trump administration's announcement to release a third of its northeastern emergency diesel reserves provides a partial buffer against supply disruption, dampening the immediate bearish impact on the broader index but failing to fully neutralize the geopolitical risk premium.