Oil Geopolitical Premium Intensifies as Gulf Conflict Escalates – BNY
BNY strategist Geoff Yu notes that the US–Iran standoff and Houthi Red Sea threats sustain a geopolitical premium in Brent and WTI, with Brent approaching $88 per barrel.
CLBZ
BNY strategist Geoff Yu says the ongoing US–Iran confrontation and Houthi rebel threats in the Red Sea are keeping a geopolitical premium embedded in crude prices.
Brent crude has risen toward $88 per barrel, while risks of further disruptions through the Strait of Hormuz could tighten oil supply even more. The note does not specify a target or timeline for potential Strait-related shocks.
Source: FXStreet Forex News