- Brent crude traded at $105.65 per barrel, up from around $102 on Monday, while WTI ended the week lower at $93.11 from roughly $98, leaving Brent on track for a weekly gain on Middle East supply security concerns.
- Houthi attacks on Saudi Arabia escalated, with the group claiming missile and drone barrages on Saudi targets including the Yanbu port, now the kingdom's main oil export terminal.
- The United States and Iran are discussing a ceasefire under which Iran would reopen the Strait of Hormuz in exchange for the US lifting its naval blockade, a diplomatic counterweight that has not yet reversed the upside bias in crude.
- JPMorgan dropped its prior assumption that rising prices would cap the conflict, saying six months in, thresholds have been crossed without a clear exit and roughly 10 million barrels per day of oil supply has been disrupted.
- UK consumer confidence hit a two-year high in the same session, a separate macro data point that did not drive the oil supply story.
引述
“With no clear resolution in sight, the gap in oil inventories globally is getting wider”
“Diplomatic efforts on the sidelines of the UN are providing some counterweight, but until there is clearer evidence of a durable de-escalation, the upside bias remains in place”
“It's America that must choose whether it wants to end this or not”