Today’s market analysis on behalf of Ahmad Assiri Research Strategist at Pepperstone
Despite recent US strikes against the Houthi group aimed at disrupting navigation in the strategic Bab al-Mandab strait, the actual influence on oil prices proved to be fleeting and marginal. Prices momentarily spiked to $72 per barrel, yet swiftly reverted to a steadier state around the $71 mark. This quick stabilization demonstrates the minimal geopolitical effects in the Red Sea on the broader oil market.
