Spot Mideast crude prices strengthen after Iran attacks UAE tankers
“The mini-glut of oil has now evaporated, with a fresh eye of a potential of disruptions from the Bab el-Mandeb Strait if Houthis are joining the attacks.” — June Goh, Senior Oil Analyst at Sparta Commodities
- Expert: June Goh (Senior Oil Analyst, Sparta)
- Publication: Reuters
- Market Focus: Crude Oil, Strait of Hormuz, Bab el-Mandeb Strait
- Geographies: Middle East, Asia, Singapore
In a recent analysis for Reuters, Sparta’s Senior Oil Analyst, June Goh, flagged that the brief easing in Asian crude supply has reversed as Middle East tensions escalate. Dubai crude’s prompt spread flipped into backwardation of nearly $1 a barrel, snapping three weeks of contango, while just five vessels transited the Strait of Hormuz on Monday, with no oil or LNG tankers among them. Goh warns that renewed Houthi attacks on Saudi Arabia now put the Bab el-Mandeb Strait at risk too, threatening Asian buyers with a second chokepoint just as they scramble for alternative supply. Traders should watch Hormuz transit volumes and Bab el-Mandeb activity closely for signs of a broader supply squeeze.
[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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