Ukrinform on Nostr: Oil rises in price as tensions persist in Middle East ========== Oil prices are ...
Oil rises in price as tensions persist in Middle East
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Oil prices are rising due to escalating tensions in the Middle East. On January 12, March futures for Brent rose by $1.36 (1.76%) to $78.78 per barrel, and February futures for WTI rose by $1.34 (1.86%) to $73.36 per barrel. Tyler Richey, editor of Sevens Report Research, notes that the price of WTI has not fallen below the level of long-term support, which is around $70 per barrel, since the beginning of 2024. The rising tensions are attributed to the expanding conflict between Israel and Hamas, as well as attacks by Iranian-backed Houthis on ships in the Red Sea. The Houthis recently launched a large-scale attack on ships, prompting the US and allied military to launch strikes against the Houthis in Yemen. The strikes targeted at least 60 locations in Yemen. The attacks and strikes have caused shipping companies to be cautious about sending vessels through the Red Sea. The article was published on January 13, 2024.
#OilPrices #MiddleEast #Brent #Wti #Tensions #Houthis #RedSea #Yemen
https://www.ukrinform.net/rubric-economy/3812333-oil-rises-in-price-as-tensions-persist-in-middle-east.html
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Oil prices are rising due to escalating tensions in the Middle East. On January 12, March futures for Brent rose by $1.36 (1.76%) to $78.78 per barrel, and February futures for WTI rose by $1.34 (1.86%) to $73.36 per barrel. Tyler Richey, editor of Sevens Report Research, notes that the price of WTI has not fallen below the level of long-term support, which is around $70 per barrel, since the beginning of 2024. The rising tensions are attributed to the expanding conflict between Israel and Hamas, as well as attacks by Iranian-backed Houthis on ships in the Red Sea. The Houthis recently launched a large-scale attack on ships, prompting the US and allied military to launch strikes against the Houthis in Yemen. The strikes targeted at least 60 locations in Yemen. The attacks and strikes have caused shipping companies to be cautious about sending vessels through the Red Sea. The article was published on January 13, 2024.
#OilPrices #MiddleEast #Brent #Wti #Tensions #Houthis #RedSea #Yemen
https://www.ukrinform.net/rubric-economy/3812333-oil-rises-in-price-as-tensions-persist-in-middle-east.html