Rubio's Gulf tour is confidence-building; oil market pricing in perfection (with Abeer Abu Omar)

Rubio's visit is about confidence-building, assuring Gulf allies the US is still invested. Oil market is pricing in perfection assuming Hormuz stays fully open. Some customers are reluctant to buy barrels until sanctions and supply credibility are certain.

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Rubio's Gulf tour is confidence-building; oil market pricing in perfection (with Abeer Abu Omar)

wti

Market pricing in perfection at $72, but customers are reluctant to buy until sanctions and supply credibility are certain. Suggests near-term uncertainty but no strong directional view.

Asks what to expect from Rubio's regional visit.

Abeer Abu Omar
Stuart Livingstone Wallace

Rubio's visit is confidence-building: 'we still have your back, we are still invested in the region.'

He is meeting GCC foreign ministers in Bahrain.
Asks about oil oversupply and latest on Hormuz flows.

Abeer Abu Omar
Stuart Livingstone Wallace

Oil market is pricing in perfection, assuming Hormuz is fully open with no more problems. $72 is still reasonably high vs $60 pre-war. Some customers are reluctant to buy until sanctions and supply credibility are certain.

There has been a $50/barrel drop in weeks.

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