closing price: Oil prices tightened at the end of Friday's session, closing higher after an attack on a British tanker was claimed by Yemen's Houthi rebels, reviving the threat of a supply disruption in the Middle East. Price for a barrel of Brent BRENT Brent, or North Sea oil, is a variant of crude oil that serves as a benchmark in Europe and is listed on the InterContinentalExchange (ICE), an exchange specializing in energy trading. It became the first international standard for setting oil prices. from the North Sea for delivery in March rose 1.35% to $83.55, the highest since early December.
The barrel of West Texas Intermediate (WTI WTI West Texas Intermediate (WTI), also called Texas Light Sweet, is a variant of crude oil that serves as a standard in setting the price of crude oil and as a raw material for futures contracts for oil from the region Nymex (New York Mercantile Exchange ), the energy-focused exchange.) American with the same maturity rose 0.84% to $78.01, its first close in two and a half months.
The session started in red, black gold, which tilted amid profit-taking after the rise of the last few days.
WTI WTI West Texas Intermediate (WTI), also called Texas Light Sweet, is a crude oil variant that serves as a standard in setting crude oil prices and as a commodity for oil futures contracts on the Nymex (New York Mercantile Exchange), an exchange specializing in energy . That saw it lose as much as 1.68% before the trend reversed, boosted by news of an attack on a British tanker that the Houthis claimed.
🇾🇪 The Yemeni rebels said in a press release that they fired missiles at a British ship, the Marlin Luanda, a Marshall Islands-flagged oil tanker bound for Singapore, according to several reference sites.
According to the Houthis, the ship was “severely hit” and “caught fire.” It is the first time a tanker has been hit since Yemeni rebels began repeated attacks around the Gulf of Aden.
“It has caused prices to skyrocket,” commented Phil Flynn of Price Futures Group. “Geopolitical risks weigh. Supply fears are driving the market.”
Data analytics firm Ambrey Analytics had previously reported another incident in which missiles exploded near an Indian tanker carrying Russian oil.
The oil companies BP and Shell have already refrained from using the Red Sea and the Suez Canal to cross the Cape of Good Hope until further notice in order to avoid possible Houthi attacks.
According to the company Eurasia Group, which relies on geolocation data, at least 70 tankers were transiting the Red Sea on Friday. So far, many shipping companies and transport companies have been willing to use the canal for higher prices, said this geopolitical analysis company.
For Daniel Ghali of TD Securities, this attack alone will not be enough to drive prices significantly higher. “More elements are needed” to sustainably bring the black gold out of the price range in which it has been moving for two months.
(c) AFP
Comment Brent oil at its highest level since early December after tanker attack
Community barrel price