Oil Rises As Middle East Conflict Escalates and Tankers Divert

  • International
  • 16 January 2024
1

Oil prices rose slightly, as conflict escalated in the Middle East and ship-tracking data showed more tankers diverted away from the Red Sea after attacks by Yemen's Houthi movement in the region.

Brent crude futures were up 12 cents, or 0.2 percent, at $78.27 a barrel by the hour. Crude was closing down 14 cents on Monday.

U.S. West Texas Intermediate crude fell 17 cents, or 0.2 percent, to $72.52 a barrel after a public holiday in the United States on Monday.

Source (Al-Arabiya.net Website, Edited)

 

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