ING indicates that increased threats to Red Sea shipping raise the risk of supply disruptions, potentially pushing Brent crude prices up by more than 12% this week. Brent crude closed above $100 per barrel, after falling 1.3% to $99.39 per barrel during early trading; WTI crude dropped 1.4% to $90.89 per barrel. ING analysts note that if Brent crude prices approach $120 per barrel, pressure on President Trump’s administration to engage in negotiations will increase. Regarding Iran, ING highlights that the central issue is how long Iran can withstand a sharp decline in oil revenues under U.S. sanctions.
ING: Red Sea shipping risks drive oil prices and Brent crude volatility
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Summary
ING warned that shipping risks in the Red Sea are driving oil price volatility, with Brent crude potentially rising more than 12% this week. Brent closed above $100 per barrel before slipping to $99.39, a 1.3% decline; WTI fell 1.4% to $90.89. Analysts said prices near $120 could pressure the Trump administration to engage in negotiations. Among altcoins to watch, market responses to oil fluctuations may influence crypto movements. ING also noted that Iran’s capacity to withstand declining oil revenues under U.S. sanctions remains a key concern.
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