Brent crude futures climbed above $80 a barrel on Wednesday, reversing an earlier downward trend after reports emerged of a new Houthi attack in the Red Sea.
The sudden shift in sentiment highlights the persistent vulnerability of global shipping routes to regional instability, even as diplomatic channels remain active.
The price reversal underscores how quickly market participants are repricing supply risk.
Despite earlier optimism that geopolitical tensions were easing, the threat to commercial vessels in the Red Sea continues to act as a potent driver for energy markets.
Traders are weighing the immediate disruption risk against longer-term diplomatic signals.
This development comes amid conflicting signals from Washington.