Oil digs up three days while Saudi Arabia stops crude oil shipments in major waterways

Oil futures posted a three-day rise on Thursday, as Saudi Arabia halted crude oil shipments via the Red Sea waterway after blaming the Allied rebels for the oil spill. Iran to attack two tankers.

LCOU8, + 0.72%

increased 61 cents, or 0.8%, to close at $ 74.54 per barrel on ICE Europe. Meanwhile, the US benchmark, September West Texas Intermediate crude

CLU8, + 0.33%

increased 31 cents, or 0.5%, to $ 69.61 per barrel

Saudi Arabia temporarily halted oil deliveries across the Strait from Bab el-Mandeb the Gulf of Aden, after declaring that the Houthi rebels attacked Wednesday two very large oil carriers operated by Saudi National Shipping Corp. in the Red Sea. This movement is the latest conflict in the war between an Arab military coalition and rebels for control of Yemen.

"Saudi Arabia's decision to stop crude oil shipments in the Bab-el-Mandeb Strait underscores how stalemate," said Helima Croft, world chief of raw materials research at RBC Capital Markets, in a note.

"Although no ship has suffered serious damage, the danger to ships will undoubtedly increase if attacks become more frequent because Iran and its proxies have access to advanced weapons, "she said, petroleum products and petroleum products are transported daily to the Strait, accounting for about 10 percent of oil transported by rail.

"Depending on the duration of the disruption, the supply of oil in the Mediterranean and Atlantic regions could tighten, which should support the price of Brent," he writes. 39, an unexpected fall in American stocks The Energy Information Administration said crude oil inventories fell by 6.1 million barrels in the week ended July 20, outpacing the 2.9 million barrel decline, on average, in the US. analysts.

September natural gas

NGU18, + 0.22%

increased 0.7 cents to $ 2.776 per million British thermal units after the Energy Information Administration said that stocks of Underground storage rose 24 billion cubic feet in the week ended July 20 to 2.23 trillion cubic feet. This remains well below the five-year average of 2.83 billion.

In the other energy exchanges, the essence of September

RBU8, + 1.23%

increased 3.15 cents to $ 2.117 per gallon, while September heating oil

HOU8, + 0.77%

gained 2.49 cents at $ 2.1809 a gallon.