Posted 1/29/2024, 12:55:27 AM
Oil Prices Spike on Attack in Red Sea and Expected Drop in Russian Exports
- Oil prices jumped 1% due to attack on Trafigura fuel tanker in Red Sea and Russian refined exports set to fall
- Brent crude futures climbed to $84.80 a barrel, highest in nearly 2 months
- Trafigura assessing security risks after Houthi attack on their tanker
- Oil tankers linked to U.S. and UK now under threat, market likely to reprice disruption risks
- Russia to cut naphtha exports by up to 136,000 barrels per day, about a third of total, due to refinery disruptions