Brent crude jumped to $89.42/bbl—the highest since late March—after Houthi forces launched missiles at the MV Chem Pluto, a tanker transiting the Red Sea. The attack follows renewed U.S.-UK naval strikes on Houthi sites and raises concerns over sustained shipping disruptions.
Freight rates for container ships rerouted via the Cape of Good Hope rose 18% week-on-week. Analysts at JBC Energy warn that further escalation could push Brent toward $95 before summer demand peaks.