The Middle East conflict remains a key risk for global markets, with tensions involving Iran, the United States and Iran-aligned Houthi forces continuing to threaten regional shipping and energy supplies. US officials have said commercial traffic through the Strait of Hormuz continues, while reports of attacks and restrictions have kept uncertainty elevated.
The Strait is a major route for global oil shipments, making any prolonged disruption important for oil-importing economies such as India. Brent crude was around $106 a barrel on Thursday despite some easing in supply concerns after Saudi Arabia offered additional cargoes through Oman.
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