Another strike in the Black Sea—this time a Russian oil tanker took the hit. The incident's already pushing up the risk premium on Russian crude. Makes sense when supply routes get sketchy.

Word is Putin's making noise about retaliating against Western-connected ships. But let's be real—actually following through on that threat? Highly unlikely. The blowback would be massive.

What matters here is how energy security concerns keep reshaping market dynamics. Every disruption in these maritime corridors adds another layer of uncertainty to oil pricing. And uncertainty? That's what traders price in.