Oil slips from five-month high as traders weigh Mideast risk

· Energy · United States

Oil fell from a five-month high as traders weighed flareups in fighting in the Middle East against signs supply from the region is holding near pre-war levels, Bloomberg reported. US equity-index futures rebounded from last week's chip rout as investors turned to earnings. Brent crude had hovered near $109 a barrel after Ukraine resumed strikes on Russian energy infrastructure and tankers were attacked in the Middle East.

Why it matters：Energy prices are the main channel through which Middle East and Russia conflict risk reaches the global economy.

Key points

  • Oil fell from a five-month high.
  • Regional supply is holding near pre-war levels.
  • Brent had hovered near $109 a barrel.

Sources (original reporting)

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