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Oil Edges Lower Amid Resumption of Strait Shipments Even as Vessel Hit Near Oman
Brent and WTI fell as more tankers moved through the Strait of Hormuz, though a strike near Oman kept supply risks in focus.
- Brent crude futures fell 19 cents to $75.07 a barrel on Friday, with both benchmark contracts heading for weekly losses of close to 7%.
- Oil prices fell as more stranded tankers exited the Strait of Hormuz, easing supply concerns despite a cargo vessel being hit near Oman on Thursday.
- Both benchmark contracts jumped more than 2% on Thursday after the cargo vessel was hit by an unknown projectile near Oman, temporarily reversing the decline.
- Iranian authorities stated that security for vessels passing outside designated Hormuz routes is not guaranteed, while overall traffic remains a fraction of pre-conflict levels at 125 ships daily.
- Analyst Tony Sycamore said markets are watching whether tanker traffic resumes or if hurdles force producers to "tap the brakes on planned production increases.
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Oil down 2% amid resumption of Hormuz shipments even as vessel hit near Oman
·New York, United States
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The Brent valued about one and a half dollars, for just over 75 dollars per barrel. Still, Germany lost against Ecuador by 2-1. Already the Ivory Coast defeated Curaçau by 2-0.
·Portugal
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CENTCOM Posts F-16 Patrol Photos After Cargo Ship Hit Near Strait of Hormuz
U.S. Central Command said American forces remain “present and vigilant” in the Middle East as officials confirmed an IRGC drone struck a Singapore-flagged cargo ship ... The post CENTCOM Posts F-16 Patrol Photos After Cargo Ship Hit Near Strait of Hormuz first appeared on [your]NEWS.
Brent and WTI rebounded strongly as attack on merchant ship near Oman re-emerged risks to global energy flows
Coverage Details
Total News Sources14
Leaning Left1Leaning Right4Center1Last UpdatedBias Distribution66% Right
Bias Distribution
- 66% of the sources lean Right
66% Right
L 17%
C 17%
R 66%
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