Oil up as Iran Deploys New Tactics to Target Hormuz Ships
Iranian officials said the new approach has increased attacks on vessels that violate its restrictions.
- On Wednesday, Brent and West Texas Intermediate crude futures gained 0.5% after reports that Iran attacked two vessels in the Strait of Hormuz using new tactics to target shipping.
- Escalating conflict between the Houthis and Saudi Arabia poses further risks to crude supplies, with an attack on an Aramco building sparking a "limited fire" and wounding four people in Riyadh.
- Supply concerns pushed European gas prices to a four-year high, with Benchmark Dutch TTF gas futures trading just above €86 per megawatt-hour on Wednesday morning, slightly below the previous peak.
- Asian shares remained mixed as interest in chipmakers continued to support some stocks, with memory chipmaker CXMT rising about 1.0% in early Wednesday trading in Asia.
- Wall Street indices finished little changed near their records on Tuesday, though The Dow Jones Industrial Average fell 0.3% as investors processed regional energy volatility.
47 Articles
47 Articles
The cost of oil in the world markets began to rise due to concerns of traders about the stability of supply following reports of attacks on tankers and an attack on Saudi Aramco's Saudi company. The cost of December's Brent oil futures rose by 0.2 per cent, to $105.92 per barrel, writes The Wall Street Journal. Futures on WTI American oil with delivery in December also added 0.2 per cent and amounted to $93.39 per barrel. Price increases respond…
Ships are being attacked again in the Strait of Hormuz, so now the price of a barrel of crude oil is approaching $107.
The price of crude oil is again more expensive on Wednesday, after two ships were hit by projectiles in the Strait of Ormuz. ...
An oil tanker and a container carrier were hit by projects of unknown origin in the Ormuz Strait, at the center of the conflict between the United States and Iran, reported Tuesday to the UK Maritime Safety Agency UKMTO.
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