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Joseph Dahrieh, Managing Director at Tickmill
(MENAFN- Your Mind Media ) Oil prices rose on Tuesday, holding near their highest levels this month as new disruptions and risks to Middle East export routes kept supply concerns elevated. Damage to a key Saudi pipeline is expected to leave most of its capacity offline for several weeks, reducing an important alternative outlet for Gulf crude.
Shipping conditions across the Strait of Hormuz remain fragile, with transits through Hormuz falling even further. The lack of diplomatic progress has added to the uncertainty, although attempts seem underway. At the same time, efforts to keep some cargoes moving through Hormuz could help prevent further price increases.
Looking ahead, crude is likely to remain closely tied to security conditions along Gulf export routes and the pace of repairs to Saudi infrastructure. Any further disruption to maritime flows or a prolonged pipeline outage could tighten the physical market and extend the advance in prices. Conversely, progress towards dialogue could ease supply concerns and allow prices to retreat.
Appreciate your cooperation in publishing the analysis.
For any inquiry or more information pleasedo not hesitate to contact us.
Regards
Shipping conditions across the Strait of Hormuz remain fragile, with transits through Hormuz falling even further. The lack of diplomatic progress has added to the uncertainty, although attempts seem underway. At the same time, efforts to keep some cargoes moving through Hormuz could help prevent further price increases.
Looking ahead, crude is likely to remain closely tied to security conditions along Gulf export routes and the pace of repairs to Saudi infrastructure. Any further disruption to maritime flows or a prolonged pipeline outage could tighten the physical market and extend the advance in prices. Conversely, progress towards dialogue could ease supply concerns and allow prices to retreat.
Appreciate your cooperation in publishing the analysis.
For any inquiry or more information pleasedo not hesitate to contact us.
Regards
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