Oil Gains as Middle East, Russia Hostilities Imperil Flows
Oilย gained Wednesday as hostilities intensified from Russia to the Middle East, threatening supply flows that only recently recovered to near pre-war levels. Brent traded above $106 after Iran-backed Houthi rebels launched missile and droneย strikesย across Saudi Arabia, including a hit that damaged Saudi Aramcoโs headquarters. That added to an escalation inย Iranian attacksย on tankers in the Strait of Hormuz thatโs threatening aย reboundย in Gulf supply. We discuss the latest energy headlines with Rob Barnett, Senior Energy Analyst for Bloomberg Intelligence. (Source: Bloomberg)