Oil nears $90 as Hormuz shipping stalls after tanker attacks
What's new: Kpler tracked five commodity vessels on Saturday and none on Sunday, versus 31 the prior weekend.
Oil prices rose again Monday, with Brent nearing $90 a barrel, as shipping through the Strait of Hormuz slowed sharply after attacks on vessels operated by Abu Dhabi National Oil Company and US-Iran talks showed no sign of a breakthrough. Kpler data showed five commodity vessels transited the strait on Saturday and none were registered for Sunday, down from 31 over the previous weekend. Brent crude traded around $89.20, while US West Texas Intermediate was near $82.83. The United Arab Emirates blamed Iran for attacks on three ADNOC-operated vessels last week. The slowdown has heightened concern over flows through a waterway that handled about a fifth of global crude oil and liquefied natural gas shipments before the war began in February.
Sources
Earlier in this story
- 3 hours agoOil nears $90 as Hormuz shipping stalls after tanker attacksreading now
- 21 hours agoIran strikes 2 ADNOC tankers in Strait of Hormuz, UAE urges opening
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