Oil Prices Rise Following the Tanker Attack in Gulf of Oman

Published June 14th, 2019 - 07:30 GMT
Brent crude futures were up $1.71, or 2.85 percent, at $61.68 a barrel by 0908 GMT, having risen as much as 4.45 percent to $62.64.
Brent crude futures were up $1.71, or 2.85 percent, at $61.68 a barrel by 0908 GMT, having risen as much as 4.45 percent to $62.64.
Highlights
The incident followed last month's nearby sabotage attacks on vessels off the Fujairah emirate.

Oil prices jumped as much as 4 percent on Thursday after the attack on two tankers in the Gulf of Oman. 


The Marshall Islands-flagged Front Altair carrying naphtha and the Panama-flagged Kokuka Courageous carrying methanol have been evacuated and the crews were safe.

The incident followed last month's nearby sabotage attacks on vessels off the Fujairah emirate.

Brent crude futures were up $1.71, or 2.85 percent, at $61.68 a barrel by 0908 GMT, having risen as much as 4.45 percent to $62.64.

US West Texas Intermediate crude futures were up $1.25, or 2.44 percent, at $52.39 a barrel. WTI earlier rose as much as 3.85 percent to $53.11.

Both benchmarks are nevertheless headed for a weekly loss.

Oil prices had slumped in the previous session on an unexpected rise in US crude stockpiles and a dimming outlook for global oil demand.


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