News Formal

Oil rises on tanker attack, but market now better 'insured'

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 11 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 99%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Energy prices rose Friday after a missile strike on an Iranian tanker revived concerns about instability in the oil-rich region, though analysts say the global market is now more resilient to disruption to supplies.

The international benchmark for oil rose 1.6% to $60.05 a barrel after Iranian officials said two missiles hit a tanker off the coast of regional rival Saudi Arabia.

The regional tensions came to a head with the bombing of Saudi Arabia's largest oil processing facility this summer. The U.S. and Saudis blamed the attack on Iran, which denies involvement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Business as usual’ for oil after Saudi attacks, oversupply looms: IEASaudi Arabia has swiftly ramped production back up after the greatest single outage to global supply in modern times, the IEA said
Source: globeandmail - 🏆 5. / 92 Read more »

‘Business as usual’ for oil after Saudi attacks, oversupply looms: IEASaudi Arabia has swiftly ramped production back up after the greatest single outage to global supply in modern times, the IEA said
Source: globeandmail - 🏆 5. / 92 Read more »