2023-12-26 18:39:58
New York (dpa)
Published on: Tuesday, December 26, 2023 – 8:39 PM | Last updated: Tuesday, December 26, 2023 – 8:39 PM
Crude oil futures prices rose in trading today, Tuesday, with continued tensions in the Red Sea following the announcement that the Yemeni Houthi group attacked a commercial ship under the pretext that it was heading to Israel, at a time when the United States and several allied countries deployed naval vessels in the region to secure navigation under the name “Guardian.” “Prosperity.”
Bloomberg News Agency reported that the price of Brent crude oil, the global oil standard, exceeded the level of $80 per barrel after rising last week by more than 3%, which is the largest weekly increase since last October. The price of West Texas Intermediate crude, the US oil standard, also rose to about $75 per barrel.
This comes as the United Kingdom Maritime Trade Operations Authority said that it had received confirmation from a ship that had previously seen drones and witnessed explosions near the Yemeni coast, stating that it is currently continuing its journey without incident. More suspicious activity.
Bloomberg News reported on Tuesday that the ship had been in contact with the coalition forces and had been informed that it and its crew were fine.
Oil price gains in recent days contributed to limiting its losses during the last quarter of the current year, and during the year as a whole, as oil is heading to record a loss of 8% compared to its level at the end of last year.
Traders in the global market fear the emergence of surplus supplies in the market despite the pledge of the Organization of the Petroleum Exporting Countries (OPEC) and its allies in the OPEC Plus group to reduce production during the next year.
On Friday, Angola announced its withdrawal from the organization in light of the disagreements over the production quotas of member states, but the rest of the countries were quick to confirm the unity of the organization.
By 1:31 pm London time, the price of Brent crude oil rose by 2% to $80.39 per barrel for delivery next February.
The price of West Texas Intermediate crude rose by 2% to $74.89 per barrel for delivery next February.
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