Oil rises with Brent crossing $100 a barrel again as Middle East tensions keep traders on edge

Brent crude rebounded after a sharp sell-off on Monday when it fell about 11%, with a subsequent uptick reflecting lingering skepticism about a possible de-escalation in the Middle East conflict, analysts say. The price action points to continued market uncertainty and elevated volatility in energy markets, which could keep oil risk premia elevated near-term.

Analysis

Brent crude rebounded after a sharp sell-off on Monday when it fell about 11%, with a subsequent uptick reflecting lingering skepticism about a possible de-escalation in the Middle East conflict, analysts say. The price action points to continued market uncertainty and elevated volatility in energy markets, which could keep oil risk premia elevated near-term.