Author: FX

The pullback reflects a genuine easing of the acute supply shock rather than a resolution of the underlying conflict, since the Saudi workaround via Oman addresses the immediate loss of loading capacity at Yanbu without changing the fact that the East West pipeline itself remains damaged with no clear repair timeline. That distinction matters for how durable this move lower proves to be. With Houthi attacks on Saudi cities continuing and the group describing a rapid advance extending Iran’s reach in the region, the risk premium embedded in oil has room to reassert itself quickly if the Oman routing proves…

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