Oil Deficit Risks Persist as Brent Ends Flat, ING Says

ING analysts Warren Patterson and Ewa Manthey noted that oil prices have eased, with Brent crude ending largely flat. They said supply disruptions continue to raise deficit risks for the oil market.

The market was balancing several factors: US-Iran talks remained in deadlock, while Russian port infrastructure reportedly escaped major disruption, limiting immediate concerns about a further hit to exports.

The comments highlight a market caught between geopolitical supply threats and near-term relief from Russian export flows.