- After Israel launched airstrikes against Houthi targets in Yemen and Hezbollah targets in Lebanon, the risk of a broad war in the Middle East is starting to pick up, The Wall Street Journal reports.
- On Monday, Bloomberg reported that the amount of crude oil held around the world on tankers that have been stationary for at least seven days rose to 60.76 million barrels as of September 27, which is 27% lower than a year ago and could point to a pickup in demand.
- Russia is stepping up its attacks on Ukraine’s key energy grid and power plants, with even the nuclear power plant at Zaporizhzhia being under attack, Reuters reports.
- Warren Patterson, head of commodities strategy at ING Groep NV in Singapore, has issued concerns about more upside for the Oil market. “The oil market has become increasingly numb to developments in the Middle East,” said Patterson, underlining the lack of impact on supply, Bloomberg reports.
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