Middle East & Russia-Ukraine Tensions Disturb Crude Oil: Diplomatic Easing and Military Clashes Coexist, Prices Remain High

English summary

International crude oil prices fluctuated at high levels on Friday. News of Qatari mediation in US-Iran talks caused a pullback, but escalating clashes between Saudi Arabia and the Houthis, along with ongoing Russia-Ukraine conflict, supported a rebound. Strategic reserve releases by multiple countries provide short-term buffers, but institutions warn that risks to infrastructure remain, intensifying market volatility ahead of the election.