Brent crude rebounded as renewed US-Iran military strikes injected fresh risk premium into the market, though price gains were heavily capped by Saudi export resumptions and a partial 75% recovery in Gulf transit volumes despite lingering maritime threats.
Crude plunged on Friday, cementing a near 11% weekly collapse as Saudi Aramco restarted Gulf terminal loadings and persistent Strait of Hormuz transit overwhelmed lagging Chinese demand and lingering Iranian maritime threats.