Brent Crude Settles Near $89; Houthi Red Sea Threat Persists

Brent crude settled near $89 a barrel on Thursday, retreating from an intraday high above $90. The early gains faded. Selling emerged near that level, a price point that has capped rallies in recent sessions.

The Houthi threat to Red Sea shipping remains in place. Tanker diversions around the Cape of Good Hope have added voyage costs and insurance premiums for crude cargoes. Thursday's muted price move extends a trend of diminishing sensitivity to each new headline.

The $90 resistance level has held for several sessions. A break above it would require a fresh catalyst beyond the existing disruption.