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But we saved everything 🙂.
Dated Brent crude oil converged with the front-month futures price for the first time since September 10, the date of the East-West pipeline attack. Robin Brooks said markets remain concerned about a potential restart of a "hot" war and added that, once this risk recedes, prices are likely to decline.
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Brooks recently noted that Persian Gulf oil exports have returned to normal, attributing elevated prices to temporary shipping cost increases after recent disruptions here. He also described the latest spike in the VIX linked to S&P 500 options and AI debt concerns as relatively minor compared to prior episodes here. These observations come as markets weigh ongoing geopolitical risks.