Investec Focus Radio UK

Brent topped $100/b last week, driven by escalating US-Iran tensions and Houthi attacks threatening Saudi crude exports through the Red Sea. Prices have since retreated to around $90/b after the US paused action and Iran-Oman talks showed tentative progress.

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Brent crude has risen above $90 a barrel as escalating US-Iran tensions revive fears of prolonged energy disruption. Attacks on military, energy and water infrastructure, alongside the effective closure of the Strait of Hormuz, have pushed oil, diesel, jet fuel and gas prices higher.

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Brent traded near $70/b last week, reflecting confidence that oil will keep moving out of the Persian Gulf despite continuing risks around the Strait of Hormuz. Some operators are using shuttle runs to maintain crude flows.

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Oil markets enter the week looking calm despite renewed US-Iran tensions. Brent fell near $71 a barrel last Friday as hopes of normal shipping through the Strait of Hormuz improved, before a drone strike on a container ship.

Please note: this podcast is provided for information purposes only and should not be construed as an offer, or a solicitation of an offer, to buy or sell financial instruments. This podcast does not constitute a personal recommendation and is not investment advice. Investec

Brent fell below $76/b last week after the U.S. and Iran reached an initial agreement, easing some of the war-related risk premium. However, uncertainty remains over the Strait of Hormuz, the conflict in Lebanon, and whether energy flows can return to normal, leaving markets caught between short-term supply risks and a longer-term oversupply outlook.

Please note: this podcast is provided for information purposes only and should not be construed as an offer, or a solicitation of an offer, to buy or sell financial instruments. This podcast does not constitute a personal recommendation and is not investment advice. Investec