MoneyNewsWorld

Oil prices soared after the explosion of the Iranian tanker

UNITED STATES, WASHINGTON (OBSERVATORY) — Oil prices in London and New York rose sharply by $ 1-2 after the explosion of an Iranian tanker off the coast of Saudi Arabia. Prices may rise further if Iran blames Saudi Arabia.

The futures price for the European standard for Brent crude oil on the ICE exchange in London rose by 2.4% and exceeded $ 60.4 per barrel by 10:00 Moscow time, according to the exchange.

The price of the contract for the supply of the American standard WTI rose 2% to $ 54.61 per barrel.

Oil prices went up sharply after state Iranian media reported a possible shelling of the Iranian tanker Sanitized with oil.

The alleged attack was the latest incident with oil tankers in the Red Sea and the Persian Gulf region and is likely to increase tensions between Iran and Saudi Arabia.

The Fifth Fleet of the US Navy, operating in the region, said it was aware of media reports about the tanker, but currently it has no additional information, Reuters reported.

The tanker of the National Iranian Oil Company suffered serious damage after an explosion and rocket fire at about 5:00 Moscow time and 5:20 Moscow time in the Red Sea, 60 miles (96 km) from the port city of Jeddah in Saudi Arabia.

After the explosion, two main compartments of the tanker were damaged. Oil flows into the sea.

A missile attack was launched on a tanker, a fire broke out, Press TV reported, citing a statement from the tanker’s owner, the National Iranian Oil Company.

The conflict in the Strait of Hormuz arose after tightening US sanctions against Iran in the spring. The US tried to stop oil supplies from Iran, there were attempts to detain Iranian tankers.

In May 2019, two Saudi Arabian tankers were damaged by a blast and fire. According to Saudi Arabia, mines were attached to tankers, Vesti. Economy reported.

In August, Britain captured the Iranian supertanker Grace 1 (Adrian Darya 1) in Gibraltar, Iran responded by officially detaining the British tanker. Soon the tankers were freed from both sides.

But after that, the conflict in the region expanded: explosions and shelling of tankers and oil facilities began.

In September, missile strikes were launched at Saudi Arabian oil facilities, which halved the king’s production capacity. The US and the Saudis accused Iran; Iranian authorities reject the accusations.

Online:

This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.

OBSERVATORY NEWS — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.

Contact us: [email protected]

Stay connected with News Observatory and Observatory Newsroom, also with our online services and never lost the breaking news stories happening around the world.

Support The OBSERVATORY from as little as $1 – it only takes a minute. Thank you.

We are NEWS OBSERVATORY — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes OBSERVATORY possible came from you.