Key Points
developments, with some major shippers resuming passage through the trade route despite continued attacks and broader. was down 17 cents, or 0.21%, at $80.90 a barrel by 09:40 (GMT)..
The benchmarks settled more than 2% up in the previous session as fresh attacks on ships in the Red Sea prompted fears of shipping disruption, with further price support from hopes of US. interest rate cuts that could boost economic growth and fuel demand...
Despite the attacks by Yemen's Iran-backed Houthi militia, large shipping companies such as Maersk and France's CMA CGM were resuming passage through the Red Sea after the deployment of a multinational task force to the region...
But crude exports from the Caspian Pipeline Consortium (CPC) terminal near the port have already resumed, Kazakhstan's energy ministry said.. US crude stocks were expected to have fallen by 2.6 million barrels last week while distillate and gasoline inventories were likely expected to have risen, a preliminary Reuters poll showed on Tuesday...
You might be interested in
Brent lurks above $80 as Red Sea tensions spur jitters
20, Dec, 23By Natalie Grover LONDON (Reuters) - Global oil benchmark Brent hovered above $80 a barrel on Wednesday amid jitters over global trade disruption and geopolitical tensions in the Middle East following
Oil edges lower as U.S. launches Red Sea task force
19, Dec, 23By Alex Lawler LONDON (Reuters) - Oil edged lower on Tuesday after the United States announced the creation of a task force to safeguard Red Sea commerce from attacks by Iran-backed Yemeni militants,
Oil edges lower as investors watch for Red Sea developments
27, Dec, 23By Robert Harvey LONDON (Reuters) -Oil prices fell slightly on Wednesday, eating into the previous day's gains as investors monitored developments in the Red Sea. Brent crude futures were down 53
Oil drops almost 2% as investors watch Red Sea developments
28, Dec, 23By Stephanie Kelly NEW YORK (Reuters) -Oil prices dropped nearly 2% on Wednesday, eating into the previous day's gains as investors monitored developments in the Red Sea, where shippers are returning
Oil settles up on Red Sea tensions; gains capped by US stock builds
21, Dec, 23By Laura Sanicola (Reuters) -Oil prices settled slightly higher after a choppy trading session on Wednesday as investors worried about global trade disruption and tensions in the Middle East following
Oil rises 1% as more tankers avoid Red Sea after strikes
12, Jan, 24International Business News: Oil rose over 1% as more oil tankers diverted from the Red Sea due to US and UK strikes on Houthi targets in Yemen. Brent crude futures climbed to $78