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Energy markets face uncertainty amid Iran conflict
Reports indicate that the global energy markets are facing a state of uncertainty as the conflict in Iran enters its seventh month. This has disrupted maritime navigation through the Strait of Hormuz and led to the suspension of the Saudi oil pipeline. As a result, oil prices have surged past $100 per barrel, with increases in derivatives such as gasoline and diesel, affecting financial markets where the yield on 10-year U.S. Treasury bonds has exceeded 5%. Despite global inventories decreasing by approximately 555 million barrels, the decline in global demand by more than 4 million barrels per day has helped limit the rise in prices, with the market's ability to adjust to the crisis remaining limited.
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