Oil Markets Volatile Amid US-Iran Tensions and Kazakh Export Concerns

Oil markets are experiencing heightened volatility due to escalating tensions between the US and Iran, with renewed fighting following a brief ceasefire. The conflict is expanding geographically, with Houthi rebels threatening Saudi Arabian interests in the Red Sea while US-backed forces target Iran-linked militant positions in Iraq. These geopolitical risks are creating uncertainty in energy supplies and affecting global oil prices.