Brent crude oil rises to over two-week high as Middle East tensions fuel supply concerns

⑴ Brent crude traded above $105.5 per barrel on Monday, reaching its highest level in over two weeks due to escalating tensions in the Middle East heightening concerns over the security of the region.⑵ Saudi Arabia's main airports were attacked again on Sunday, and another oil tanker was targeted in the Strait of Hormuz.⑶ Despite rising security risks, oil exports from the Persian Gulf remain relatively resilient. According to reports, shipments have recovered to 17.5 million barrels per day.⑷ The International Energy Agency has urged governments to accelerate their commitments to release diesel, warning that the current market conditions require immediate attention. The agency will hold a meeting on October 15.