WS #16350
Brent crude has surged to a five-month high of $113 per barrel as Houthi attacks in the Red Sea and broader Middle East hostilities disrupt global supply chains. The severity of the conflict was underscored when Saudi Aramco was forced to evacuate its headquarters in Dhahran and move to remote operations. While the US has tapped heating oil reserves to ease domestic costs, the supply shock is driving inflation fears and pressuring consumer discretionary sectors.
Energy Supply Shock
Brent crude has surged to a five-month high of $113 per barrel as Houthi attacks in the Red Sea and broader Middle East hostilities disrupt global supply chains. The severity of the conflict was underscored when Saudi Aramco was forced to evacuate its headquarters in Dhahran and move to remote operations. While the US has tapped heating oil reserves to ease domestic costs, the supply shock is driving inflation fears and pressuring consumer discretionary sectors.