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'Houthis Remain Threat to Global Shipping,' Palti-Guzman
Posted
August 6, 2025
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August 6, 2025
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2:51Now PlayingLeslie Palti-Guzman, founder at Energy Vista, talks global energy prices and risks to shipping amid tensions in the Middle East.
Oil rallied after a four-day drop as investors waited to see whether US President Donald Trump would slap secondary tariffs on buyers of Russian energy in a bid to increase pressure on Moscow.
Brent rose above $68 a barrel after losing almost 8% over four sessions, while West Texas Intermediate was near $66. Trump suggested he could impose higher tariffs on countries purchasing oil from Russia — possibly including China — after saying he would soon raise levies on India.
US special envoy Steve Witkoff held talks with Russian President Vladimir Putin in the Russian capital on Wednesday, just two days before a deadline Trump set for Moscow to halt the war in Ukraine. The Kremlin said the meeting was constructive and the two sides exchanged “signals” over the conflict, Russian media reported.
Oil has edged lower in recent sessions following a three-month run of gains, with traders weighing headwinds to growth in the US that may hurt energy demand, as well as moves by OPEC+ to roll back output curbs. Last weekend, the alliance agreed to hike production again in September, boosting concerns that global supplies will run ahead of consumption this half.
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