Oil prices remain above $100 as Iran-US conflict continues

by@IranIntl_En

Summary

Oil prices remained elevated, with Brent crude at $103.68 and US crude at $100.02 per barrel, as the ongoing Iran-US conflict and recent Houthi attacks on Saudi Arabia heightened concerns over energy supplies. The attacks have disrupted key oil shipping routes and damaged Saudi infrastructure, including the East-West pipeline, which is critical for oil transportation. Despite these concerns, reports indicate that Saudi Arabia may be able to restore some flow through the damaged pipeline, providing a slight easing of prices.

Analysis

Vivek Dhar: Vivek Dhar is Head of Commodities and Sustainable Economics at the Commonwealth Bank of Australia. He regularly analyzes global energy markets and supply disruptions. In recent commentary tied to the Iran-US conflict and Houthi actions, he has highlighted risks from depleting oil inventories and constrained flows through regional chokepoints. Supply Concerns: Damage to Saudi Arabia's East-West pipeline and other energy facilities from recent attacks is raising fresh risks to global oil and refined product availability. Geopolitical Tensions: Ongoing Iran-US conflict combined with Houthi advances in Yemen and attacks on Saudi infrastructure is disrupting major oil shipping routes including the Strait of Hormuz and Bab al-Mandab.

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