Global shipping corridors face renewed pressure as attacks in the Black Sea disrupt commercial traffic, compounding existing risks in the Red Sea.
The convergence of these two flashpoints is sustaining a risk premium in energy markets, with traders monitoring the potential for further route disruptions.
Brent crude prices held firm in early trading, supported by the persistent threat to tanker safety.
The market is pricing in the likelihood that insurance costs and routing delays will remain elevated as long as active hostilities continue in both regions.
The situation in the Red Sea remains volatile following a recent Houthi attack on a Saudi Arabian oil tanker, which the European Union condemned as illegal.
EU foreign policy chief Kaja Kallas led the condemnation, signaling diplomatic friction but no immediate resolution to the security threat.