The International Energy Agency has issued a fresh warning that threats from Houthi rebels in the Red Sea continue to pose a significant risk to global oil and gas supplies.
The agency’s executive director cautioned that delays in exports from the Gulf region are likely to keep upward pressure on energy prices for the foreseeable future, complicating efforts to stabilize the market.
Brent crude has remained firm above the $90 per barrel mark, reflecting the market’s assessment of these ongoing supply risks.
Brent crude has remained firm above the $90 per barrel mark, reflecting the market’s assessment of these ongoing supply risks.
The price level underscores the premium traders are placing on the potential for further disruptions to shipping routes, particularly as the threat of Houthi attacks persists.
The IEA’s comments come against a backdrop of renewed geopolitical tension between the United States and Iran.
The resumption of hostilities has effectively derailed a peace agreement reached in June, adding a layer of uncertainty to the Middle East energy landscape.