Oil prices rise as hostilities worsen in the Middle East
“Brent and WTI have made upward corrections in line with escalating attacks but the quantum of move is likely now tempered as the market waits to see any change in stance from the U.S. and Iran.” — June Goh, Senior Oil Analyst at Sparta Commodities
- Expert: June Goh (Senior Oil Analyst, Sparta)
- Publication: Reuters
- Market Focus: Crude Oil, Geopolitical Risk, Strait of Hormuz
- Geographies: Middle East, Asia, Global
In a recent analysis for Reuters, Sparta’s Senior Oil Analyst, June Goh, said Brent and WTI’s gains are tracking the escalation between the US and Iran, but the size of the move is likely to stay contained until there’s clarity on Washington and Tehran’s next steps. Brent rose 0.7% to $85.31 a barrel and WTI gained 0.4% to $79.69 a barrel on Wednesday, building on Tuesday’s 2% jump to a one-month high after Trump reimposed a naval blockade on Iranian ports and Iran struck US positions in Jordan, Bahrain and Kuwait. The Strait of Hormuz, which carries about a fifth of global oil and LNG flows, remains at the centre of the risk after Tehran said it had closed the waterway again. Traders should watch for any shift in US or Iranian posture, and monitor Hormuz transit disruptions and further sanctions risk for the next leg of the move.
[Read June Goh’s full commentary in Reuters]
About the Author
June Goh | Senior Oil Analyst, Sparta Commodities
June is a senior oil market analyst at Sparta specialising in global crude trade flows and refining economics across Asia and Europe. Her analysis is regularly cited by Bloomberg, the Financial Times, and Reuters. With a significant following in the energy community on X (@JuneGoh_Sparta), June’s insights are a staple for institutional traders navigating regional market shifts.
Connect: LinkedIn / X
About Sparta
Sparta is a live, market intelligence and forecasting platform that enables oil traders, refiners, banks, hedge funds and wholesalers to have access to real-time and global actionable insights to capture market opportunities before others.
To find out how Sparta can allow you to make smarter trading decisions, faster, contact us for a demonstration at sales@spartacommodites.com
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