Brent crude prices advanced on Thursday, driven by persistent concerns over global supply security.
Investors remained cautious regarding the outcome of ongoing talks between Iran and Oman, which are critical for restoring stable flows through the Strait of Hormuz.
Simultaneously, reports of attacks on Saudi tankers in the Red Sea and the Gulf added to the risk premium, keeping pressure on shipping routes.
Simultaneously, reports of attacks on Saudi tankers in the Red Sea and the Gulf added to the risk premium, keeping pressure on shipping routes.
The price move reflects a market balancing diplomatic hope against immediate physical threats.
While the Iran-Oman negotiations offer a potential pathway to de-escalate tensions in the Strait of Hormuz, the lack of a definitive resolution has left traders exposed to volatility.
The concurrent attacks on tankers underscore the fragility of current supply chains, reinforcing the risk premium embedded in energy prices.