The Crude oil market witnesses a clear rebound from Hx of January xxxx after witnessing immense fluctuations as the Crude oil prices have been on a steady upward climb for straight two weeks of January xxxx, propelled by a potent cocktail of escalating geopolitical tensions and tightening supply amidst robust demand. This surge, exceedingly early-month expectations, as the expected dip in inventories could surge the prices even higher.
The Crude oil market has continued to remain at a higher end with WTI Crude oil closing at USD xx.xx/barrel up by x.xx; Brent Crude oil closed at USD xx.xx/barrel up by x.xx during the third week of January xxxx. The immediate trigger for the price hike was the intensifying conflict in Yemen, where Houthi rebels, backed by Iran, launched attacks on commercial ships in the Red Sea. This strategic waterway, crucial for oil transportation, became a battleground,...
