Oil’s Calm Is Over as Middle East Risks Return | EN590 Commodities
EN590 Commodities GroupEN590 / Diesel July 10, 2026
IEA Chief Urges EU to Drop Arctic Drilling Ban Tom majored in International Business at Amsterdam’s Higher School of Economics and later completed an Executive MBA in Energy Transition at the University of Groningen.… Renewed U.S.-Iran strikes have revived the Middle East risk premium, lifting Brent above $76 as traffic through the Strait of Hormuz slows and supply disruption fears return. The return of the Middle Eastern geopolitical risk premium has lifted global oil prices by $4 per barrel this week, with ICE Brent set to settle above $76 per barrel. Renewed US-Iran strikes pushed traffic through the Strait of Hormuz back toward a near-standstill as market concerns about continued supply disruptions outweighed President Trump’s (yet another) Friday attempt to pitch further talks with Te
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