WS #16531
Brent crude has retreated nearly 5% to $109.76, marking a de-escalation from earlier spikes caused by reports of tankers struck by mines in the Strait of Hormuz. While geopolitical tensions in the Middle East remain high, the immediate supply disruption fears have subsided, providing some relief to energy-intensive sectors like airlines and shipping. However, oil remains elevated near $110, keeping inflationary pressures on the margin.
Oil Stabilization and Geopolitical Risk
Brent crude has retreated nearly 5% to $109.76, marking a de-escalation from earlier spikes caused by reports of tankers struck by mines in the Strait of Hormuz. While geopolitical tensions in the Middle East remain high, the immediate supply disruption fears have subsided, providing some relief to energy-intensive sectors like airlines and shipping. However, oil remains elevated near $110, keeping inflationary pressures on the margin.