The Commodities Feed: Oil stabilises despite Houthis’ Red Sea threat

AI Summary

Oil prices showed some stabilization with Brent crude closing below $90 per barrel amid hopes for a de-escalation of tensions involving the Houthis in the Red Sea and diplomatic efforts between the US and Iran. A proposed 10-day ceasefire has contributed to easing market anxieties.

Energy – Hopes for de-escalation ease oil prices Oil prices closed higher yesterday but retreated from session peaks, leaving Brent back below $90/bbl by the close. Prices are trending lower in early morning trading today. There’s some hope of de-escalation between the US and Iran. Reports are that mediators are proposing a 10-day ceasefire, which ...