Bearish signs on oil markets emerge

AI Summary

Oil markets remain volatile amid the U.S.-Iran conflict, which has expanded toward the Red Sea and disrupted flows through Bab-el-Mandeb. Renewed Houthi attacks on Saudi-linked vessels and the East-West pipeline are contributing to market uncertainty and bearish signals.

Oil markets have been in constant flux since the start of the US-Iran conflict, with market participants closely monitoring the situation in the Middle East Gulf (MEG). The conflict has expanded towards the Red Sea since August, disrupting oil flows at Bab-el-Mandeb as the Houthis resumed attacks on Saudi-linked vessels and on the East-West pipeline ...