Phillip Nova analyst Priyanka Sachdeva said in a note that sustained escalation could push Brent to $100/bbl. She said the market currently faces logistics risk rather than direct crude losses, but persistent attacks could erase that distinction rapidly. The biggest energy-market risk is simultaneous, prolonged disruptions in the Bab al‑Mandeb and the Strait of Hormuz; if that occurs, flexibility to reroute cargoes would be very limited and shipping interruptions could quickly feed into broader

Phillip Nova analyst Priyanka Sachdeva said in a note that sustained escalation could push Brent to $100/bbl. She said the market currently faces logistics risk rather than direct crude losses, but persistent attacks could erase that distinction rapidly. The biggest energy-market risk is simultaneous, prolonged disruptions in the Bab al‑Mandeb and the Strait of Hormuz; if that occurs, flexibility to reroute cargoes would be very limited and shipping interruptions could quickly feed into broader inflationary pressure.