A jump in oil prices and Brent is approaching $80

0
29
A jump in oil prices and Brent is approaching $80

On Thursday, Ambrey reported that an oil tanker was boarded by four or five gunmen off the coast of Oman near Sohar.

Embry reported that a crude oil tanker with a Marshall Islands flag was headed towards Bandar Jask, Iran.

Oil prices rose by nearly 2%, more than the quiet increases seen in Asian trading, as markets shrugged off the sudden surge in US crude inventories reported by the Energy Information Administration on Wednesday.

Market movements

Brent crude futures increased to $78.10 per barrel, up $1.28 or 1.72%, while US West Texas Intermediate crude futures rose to $72.64 per barrel, up $1.28 or 1.78%, as of 9:55 GMT.