Oil prices rose in morning trading, in light of the escalation of geopolitical risks in the Middle East region, which is rich in black gold.
Global Brent crude futures rose by 0.35 percent to $78.15, while West Texas Intermediate crude futures increased by 0.54 percent to $72.87.
The US Central Command confirmed in a statement that an American commercial ship suffered “some damage as a result of a bombing that targeted it off Yemen, while there were no casualties among its crew and it is still afloat.”
The Houthis previously announced that they had targeted the American ship “Ginco Picardie” in the Gulf of Aden with a number of naval missiles, and they confirmed that the hit was accurate and direct.
Oil prices also received support from the decline of the US currency in global markets, and the dollar index, which measures the value of the US currency against a basket of major currencies, fell by 0.16 percent to 103.28 points.
Data on US crude inventories limited the rise in prices. According to estimates by the American Petroleum Institute, commercial oil inventories in the United States rose by 0.5 million barrels in the week ending January 12, while experts expected a decrease of 0.3 million barrels.
2024-01-18 08:10:28
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