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LONDON – Oil futures concluded the Thursday session with gains on both sides of the Atlantic, prompted by the announcement by Saudi Arabia Saudi Arabia to suspend its oil deliveries through a narrow in the Red Sea.
The Brent oil futures contract closed up 0.83%, up to 74.54 dollars a barrel, extending his bull to a third day, but below 39%. a 10-day high He played earlier.
Brent's September contract options expired on Thursday and will come into effect next October.
For his part, the future West Texas Intermediate (WTI) oil tanker of the United States. United for delivery in September, they rose 0.45% to $ 69.61 a barrel traded at the New York Mercantile Exchange.
The world's largest oil exporter said Thursday that it was going to "temporarily stop" all crude shipments across the Bab al-Mandeb sea lane in the Red Sea. one of the world's most important routes for oil tankers traveling from the Middle East to Europe, following an attack by the Yemeni houthi movement, aligned with Iran.
Saudi Arabia has a major export terminal at Ras Tanura, which also has the country's largest refinery on its eastern coast. The kingdom exports most of its tankers pbading through the Strait of Ormuz.
WTI was initially supported by official data showing that crude stocks in the United States plummeted last week more than expected and at their lowest level since 2015.
PVM strategist Tamás Varga said the reduction was not as positive as it might seem, given that most of this decline took place on the west coast, separated from the rest United States by the Rockies and, therefore, is not a clear indicator of a wider decline in oil in the country.
The threat of a transatlantic trade war has dissipated after talks between US President Donald Trump and European Commission President Jean-Claude Juncker on Wednesday
with Reuters news and Notimex.
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