Oil Holds Gain With Fresh US-Iran Attacks, Kazakh Exports Risk

Energy markets have been rocked by a fresh round of volatility this month, as investors navigated a short-lived pause in hostilities between Iran and the US, followed by renewed fighting. The conflict is spreading beyond the Strait of Hormuz, with Houthi rebels in Yemen threatening a blockade of Saudi Arabia in the Red Sea, while Riyadh’s forces joined with the US to hit targets in Iraq that are linked to Tehran-backed militants. Paul Sankey, founder at Sankey Research, discusses the Houthi and Saudi escalation and how it's affecting energy. (Source: Bloomberg)