Global Oil Markets Wobble Amid Fresh Conflicts and Uncertainty

Oil traders from around the world have descended on Singapore for the region's main industry gathering, amid fresh signs of strain in global oil markets.

Much of the uncertainty stems from ongoing conflict in the Middle East, which has caused Brent crude to threaten a return to $100 a barrel - a price point not seen since the US-Iran conflict erupted six months ago.

Recent vessel attacks in the Strait of Hormuz are further jeopardizing oil flows, while diesel faces extreme tightness. The outlook for Chinese demand remains unclear, complicating forecasts.