Geopolitical Risk and Economic Optimism Push Oil Prices Higher

Middle East Tensions Escalate Oil markets witnessed a significant surge this week, with WTI crude oil climbing 5.26%, its highest level since December. This rally is attributed to a combination of strong U.S. economic indicators and escalating tensions in the Middle East. Shipping disruptions in the Red Sea, intensified by recent incidents involving Maersk-operated ships and U.S. military supplies, are heightening concerns over supply chain stability. Yemen's Houthi leader's declaration to target ships linked to Israel exacerbates the situation,…