Crude holds near $110 per barrel as Middle East tensions keep supply concerns alive

Crude oil prices are currently hovering near $110 per barrel, driven by persistent supply concerns stemming from escalating geopolitical tensions in the Middle East and involving Russia and Saudi Arabia.

Market impressions have been recently shifted by Washington's decision to relax restrictions on Russian energy exports. Concurrently, supply anxieties are further sustained by attacks on Saudi facilities claimed by Yemen's Houthis.