Oil Extends Surge On Supply Fears

Oil prices extended their rally for a fifth straight session as Yemen’s Iran-aligned Houthis claimed an attack on two Saudi oil tankers in the Red Sea, heightening fears of additional crude supply disruption. The development raises geopolitical supply-risk premiums, which can support near-term energy prices and pressure sentiment across the trade-linked supply chain.

Analysis

Oil prices extended their rally for a fifth straight session as Yemen’s Iran-aligned Houthis claimed an attack on two Saudi oil tankers in the Red Sea, heightening fears of additional crude supply disruption. The development raises geopolitical supply-risk premiums, which can support near-term energy prices and pressure sentiment across the trade-linked supply chain.