Crude oil prices have risen by over 1.4% today as geopolitical tensions in the Middle East grow, particularly following the collapse of the Gaza ceasefire and escalations in Yemen. Concerns about supply safety are rekindling the geopolitical risk premium for oil. Growing tensions between the US and Iran could lead to severe supply disruptions, with possible military involvement heightening risks. Simultaneously, uncertainties from the US trade war are placing downward pressure on prices, alongside the expected increase in OPEC supplies set for next month.
Crude oil prices are rebounding, gaining more than 1.4% largely due to escalating geopolitical tensions in the Middle East affecting supply concerns.
The ceasefire collapse in Gaza and the US and UK's actions in Yemen heighten market concerns, particularly with President Trump's accusations against Iran.
Potential military escalation between the US and Iran could severely disrupt oil supplies, leading to significant price spikes if conditions worsen.
Despite rising prices, uncertainty from the US-led trade war and OPEC's increased supply is keeping crude prices under constant pressure.
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