Oil held near recent highs on Tuesday, with Brent around $111.40 a barrel and WTI around $102.49, both slightly higher on the day according to market reports. Energy prices remain elevated amid Middle East tensions.
On Tuesday the Saudi-led coalition in Yemen said it had intercepted and destroyed three ballistic missiles and drones launched by the Houthis toward two regions of Saudi Arabia, adding to supply-risk headlines. Analysts also flagged the Israeli election, where results could move oil and the dollar.
Currency angle
- CAD, NOK: oil-linked currencies often track crude, though rate expectations can outweigh it. The Bank of Canada hike debate matters as much as the oil price; see oil prices and the Canadian dollar.
- JPY, EUR: net energy importers tend to be sensitive to high crude, which raises import bills.
- USD: the dollar held near a one-week high ahead of Wednesday's Fed decision.
Oil prices come from reports made during the Tuesday session and may differ by source and time of quote. Geopolitical headlines can reverse quickly, so check live prices before relying on any level. This brief is market information, not a trading recommendation.