After the Houthis announced a missile strike, Brent crude prices jumped to $115 a barrel, intensifying fears of oil supply disruptions from the conflict-laden Middle East. Additionally, a slight uptick in US oil inventories influenced trader responses. With expectations that OPEC+ will stick to existing output targets in their next assembly, the landscape of the oil market remains increasingly intricate, especially with ongoing apprehensions regarding Russian crude exports. After the Houthis announced a missile strike, Brent crude prices jumped to $115 a barrel, intensifying fears of oil supply disruptions from the conflict-laden Middle East. Additionally, a slight uptick in US oil inventories influenced trader responses. With expectations that OPEC+ will stick to existing output targets in their next assembly, the landscape of the oil market remains increasingly intricate, especially with ongoing apprehensions regarding Russian crude exports.
