Key Points
SINGAPORE (Reuters) -Oil prices climbed on Monday after a drone attack on U.S. forces in Jordan added to worries over supply disruption in the Middle East as Houthi rebels stepped up their attacks on vessels in the Red Sea, hitting a Trafigura-operated fuel tanker...
We believe the death of three U.S. service members today in Jordan marks a critical inflection point in the ongoing conflict in the Middle East and raises a specter of a more substantial U.S. involvement in the war, RBC Capital analyst Helima Croft said in a note, adding that a more direct confrontation with Iran raises the specter of regional energy supply disruptions...
Disruptions to supply have been limited, but that changed on Friday after an oil tanker operating on behalf of Trafigura was hit by a missile off the coast of Yemen, ANZ analysts said in a note...
Both contracts rose for a second week in a row and settled at their highest in nearly two months on Friday, supported by Middle East and Russian supply concerns while positive U.S. economic growth and signs of Chinese stimulus boosted demand expectations...
The air of complacency lingering around the oil market has evaporated, IG markets analyst Tony Sycamore said.. Dips in WTI are likely to find buyers back towards the 200-day moving average at $77.60, before a stronger layer of support at $75.00 from buyers looking for a push into the low $80s...
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