Houthi rebels carried out attacks on Aramco oil installations in the Red Sea, triggering declines on Gulf stock markets. These incidents have heightened geopolitical tensions in the region and renewed concerns over energy security. Brent crude had already surpassed $100 per barrel following previous attacks on tankers. The market prices the probability of crude reaching a new all-time high at 6.7% and WTI hitting $130 at just 0.2%. OPEC and Saudi Arabia’s energy ministry remain key actors to watch, as any geopolitical development could swiftly alter price dynamics.
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