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macroJul 21, 2026, 11:42 AM

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.

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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