Money in the Market: Are oil prices not truly reflecting the Red Sea conflict?

Attacks on commercial shipping in the Red Sea have escalated, with no signs yet of tensions easing any time soon. The escalation of the conflict has heightened worries about supply risks, with oil markets the most vulnerable. But according to analysts, while the diversions by oil tankers were expected to push up the cost and time it takes to transport oil, supplies have not yet been impacted. Meanwhile, others warn that prices could change rapidly if supply is disrupted. So are oil prices truly reflecting the geopolitical risks in the Red Sea? On Money in the Market, Hongbin Jeong speaks to Priyanka Sachdeva, Senior Market Analyst, Phillip Nova, to find out more. See omnystudio.com/listener for privacy information.