2023-12-27 21:15:02
The Danish shipping giant Maersk announced that it has set dates for dozens of container ships to pass through the Suez Canal and the Red Sea in the next few weeks.
Oil prices fell today, Wednesday, to erase some of the gains of the previous day, at a time when investors are monitoring developments in the Red Sea, with some major shipping companies resuming traffic from the region despite new attacks, yesterday, Tuesday, and inventory reports are expected from the American Petroleum Institute and the American Petroleum Administration. Energy information Wednesday and Thursday respectively, a day later than usual for both reports due to the Christmas holiday.
Brent crude futures fell 53 cents, or 0.67 percent, to $80.30 per barrel by 14:41 GMT, and US West Texas Intermediate crude fell 67 cents, or 0.86 percent, to $74.89 per barrel.
UBS Bank analyst Giovanni Stonovo said that prices may fall during the day due to investors taking profits following they increased strongly yesterday, Tuesday.
The giant Danish shipping company, Maersk, announced that it had set dates for dozens of container ships to pass through the Suez Canal and the Red Sea in the next few weeks, following it called for the cessation of using these two routes this month following attacks launched by the Yemeni Houthi group allied with Iran. The French company CMA CGM also said that it would resume transit through the Red Sea following deploying a multinational task force in the region.
Both prices ended the session yesterday, Tuesday, with an increase of more than two percent, as attacks on ships in the Red Sea fueled fears of disruption to shipping operations.
The possibility of the Israeli ground operation in the Gaza Strip continuing for a long period remains one of the main drivers of market sentiment.
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