Brent crude oil prices have stabilized following recent conflict-driven spikes, with Deutsche Bank analysts noting a brief decline to $100.21 per barrel (-2.84%) and the 6-month future falling to $83.40 per barrel (-2.64%) as hopes grew for resumed flows through the Strait of Hormuz [1]. Danske Bank reports that Brent is trading around USD 103 per barrel after briefly easing, highlighting that supply risks remain elevated due to intensified conflict in the Middle East [2].
Both sources cite Iranian attacks on energy infrastructure as a key driver of market volatility. Danske Bank details that Iran targeted the Shah gas field in the UAE with a drone attack and caused a fire in the Fujairah Oil Industry Zone, while a tanker near Fujairah was also struck [2]. Deutsche Bank confirms that the UAE’s Fujairah oil export terminal was hit by an Iranian strike earlier on Monday but partially resumed operations later in the day [1].
The International Energy Agency’s Executive Director commented that more stockpiles could be released if needed, which helped calm fears of a severe stagflationary shock [1]. Despite some tankers exiting the Gulf over the weekend, Deutsche Bank notes this represents only a small trickle compared to normal volumes of around fifty tankers a day [1]. Danske Bank warns that Iran’s focus on energy assets increases the risk that oil prices will climb further and remain elevated, even if Strait of Hormuz traffic normalizes [2].
Israel has announced detailed plans for at least three more weeks of war, continuing strikes on sites across Iran and Lebanon, further contributing to regional instability and energy market uncertainty [2].
CONCLUSION
Brent oil prices remain above $100 per barrel as conflict in the Middle East intensifies, with Iranian attacks on energy infrastructure sustaining supply risks. While partial resumption of operations and potential stockpile releases have eased some fears, analysts warn that elevated prices may persist even if shipping traffic normalizes. The ongoing regional conflict continues to pose significant risks to energy markets.