Energy Equities Mixed Despite Oil’s Biggest Rally Since 2022

AI Briefing

• – Oil prices briefly hit $119 during Asia Pacific trading, sparking a global energy market volatility, before falling back to $90 per barrel.
• – The price spike was triggered by the intensifying conflict between the U.S., Israel, and Iran, which has led to a near-total blockade of the Strait of Hormuz.
• – The pullback came amid reports that a potential deal was being discussed to ease tensions.