Oil prices have surged to a six-month high following reports that Israel is preparing for possible attacks from Iran.
Oil prices have surged to a six-month high following reports that Israel is preparing for possible attacks from Iran.
Oil recently hit its highest point in five months as Israel gears up for possible retaliatory actions from Iran following its attack on the Iranian embassy in Syria.
Oil recently hit its highest point in five months as Israel gears up for possible retaliatory actions from Iran following its attack on the Iranian embassy in Syria.
Oil is poised for its most significant weekly rise since October, fueled by the ongoing Red Sea crisis and China’s economic stimulus measures, potentially boosting demand.
Tanker traffic in the Suez Canal has dropped to levels not seen since the Covid pandemic, as Houthi attacks disrupt oil and petrol deliveries.
An official report indicates that this year will see a halving in oil demand, impacting both Vladimir Putin’s war-driven economy and Saudi Arabia, the world’s top oil producer.
A growing number of tanker operators are avoiding the Red Sea, with several tankers altering their routes on Friday, as indicated by shipping data.
Saudi Arabia won’t be held responsible for any oil shortages in global markets due to Houthi attacks on oil facilities. This was stated by the Saudi energy ministry on Friday,