Oil surges after alleged attack on Iranian oil tanker

Friday, 11. October 2019 09:41

Crude prices were up by around 2% on Friday after an Iranian oil tanker suffered damage from an explosion, which its owner claimed was caused by missiles shot at it. Some of the oil cargo was spilled into the Red Sea and the situation was brought under control. The incident occurred near the Saudi port city of Jeddah.

International benchmark Brent for settlements in December jumped 2.06% to sell for $60.34 per barrel at 3:31 am ET as West Texas Intermediate (WTI) for November delivery rallied 1.90% to go for $54.57 per barrel at the same time.

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Breaking the News / NI