23 Hrs
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الاقتصادية
Oil rises on supply risk and tanker attacks
Oil prices have risen sharply following the targeting of a Saudi tanker in the Red Sea, which increases the likelihood of escalating tensions between the United States and Iran and threatens disruptions to global oil supplies. Brent crude oil prices increased by 2.7% to reach $96.50 per barrel, the highest level since June, while West Texas Intermediate (WTI) rose by 2% to $88.50. Saudi Arabia confirmed that the tanker (ENCELIA) was attacked while sailing, resulting in a fire at the front of the vessel. The crew's safety has been assured, and necessary measures have been taken to protect the environment. These attacks come amid ongoing U.S. strikes on Iran and American threats to carry out additional operations, which could push oil prices above $120 per barrel, especially with the rising tensions in the Strait of Hormuz and the Red Sea, both of which have become key routes for Saudi oil shipments and global supplies.
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