Brent Crude Holds Above $100/b Amid Ongoing Middle East Tensions

Oil futures have consolidated above $100/b as investors monitor Middle East tensions and their impact on critical energy infrastructure, shipping, and strategic waterways.

The price of Brent crude has held steady despite escalating conflict in the region, with several key incidents reported in recent days, including attacks on tankers and a drone strike on Russia's Novorossiysk port.

A tanker near Dubai was at risk of sinking after being hit by an attack, while Benchmark Dubai crude prices surged to a five-month high on Wednesday as the conflict intensified.