Axar.az
UP

Axar.Az Logo

Oil jumps briefly after reports of Iranian tanker attack

Home page Economy
12 Punto 14 Punto 16 Punto 18 Punto

Oil prices rose as high as $60.65 a barrel on Friday after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, but bearish oil demand forecasts soon pulled crude off session highs.

Axar.az reports citing Reuters.

The Iranian Suezmax crude tanker was struck in the Red Sea off Saudi Arabia’s coast on Friday, Iranian media said, with various reports differing on the level of damage caused.

The National Iranian Tanker Company (NITC) said the ship was damaged but stable and denied reports it had been set ablaze.

Both oil benchmarks recorded their biggest daily rise since Sept. 16, the first trading day after attacks on Saudi installations knocked out more than half of the kingdom’s crude output and temporarily pushed oil prices up by about 20%.

Friday’s initial boost from the Iranian news wore off as trading continued. Brent crude futures LCOc1 were up 60 cents at $59.70 a barrel by 1128 GMT and U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 76 cents to $54.31.

Date
2019.10.11 / 19:31
Author
Axar.az
Comments
See also

Oil prices have increased

Oil prices have increased

Azerbaijan currency rates

The US oil giant has closed its Baku office

Oil prices rapidly increase

Azerbaijan currency rates

Baku oil price has decreased

The value of Bitcoin fell below $ 30,000

Oil prices have increased

Oil is falling sharply - Last price

Latest
Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla
ArxivBağla