The first week of the new year looks set to end with a moderate gain for oil benchmarks fueled by escalating tensions in the Middle East and supply disruptions in Libya. In the Middle East, Yemen’s Houthis continue to attack ships in the Red Sea, and this week also saw a bomb attack kill some 100 people in Iran. The attack was claimed by the Islamic State although Iran itself said it was a response to its stance on the war between Israel and Gaza. Across the Red Sea, meanwhile, in Libya, a fresh wave of protests shut down the country’s…
