Oil Gains After Saudi Oil Field Attack
by Bloomberg | C. Charleston, A. Longley, L. Smillie
click here to read this article at Rigzone.com
*this article was not written by Roseland Oil & Gas
A deadly Saudi oil field attack and Gulf embassy concerns pushed crude prices higher.
Oil rose after settlement amid supply concerns from the Middle East and renewed fears about escalating hostilities.
Brent crude oil traded around $110 a barrel after settling around $109 a barrel. West Texas Intermediate also rose. The US State Department is preparing to issue an ordered departure of some personnel and family members from US embassies across the Gulf region, Reuters reported, citing three US officials.
Meanwhile, a drone attack on a Saudi Aramco oil field left two people dead, the state run Saudi Press Agency reported.
Oil is up about 80% this year, while prices for refined products such as diesel have jumped even higher amid disruptions in the Strait of Hormuz and from Ukrainian attacks on Russian refineries.
Oil Prices
- Brent for December settlement was little changed to settle at $108.82 a barrel.
- Prices rose to $110.33 in post-settlement trading at 3:09 p.m. New York time
- West Texas Intermediate fell 4.6% to settle at $97.15 a barrel.
- Prices climbed to $98.41 at 3:09 p.m. in post-settlement trading
by Bloomberg | C. Charleston, A. Longley, L. Smillie
click here to read this article at Rigzone.com
*this article was not written by Roseland Oil & Gas