EU diplomats said technical work on the sanctions package against Russia will be completed shortly and the written adoption procedure will begin this afternoon.

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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.