- BIST10011,220-3.08%
- USD49.60+0.05%
- EUR55.68+0.11%
- GOLD4,037.60-2.71%
- INTEREST36.00%-1.00
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- October 22, 202617°
- BIST10011,220-3.08%
- USD49.60+0.05%
- EUR55.68+0.11%
- GOLD4,037.60-2.71%
- INTEREST36.00%-1.00
- BITCOIN81,387-3.14%
- October 22, 202617°
Oil rises over 2% after Shaybah attack in Middle East
Oil prices rose more than 2% after two people were killed in a drone attack on the Shaybah oil field owned by Saudi Aramco in Saudi Arabia. Brent crude rose to $111.40 a barrel, while West Texas Intermediate reached $99.30.
An attack at the Shaybah oil field in Saudi Arabia pushed oil prices higher on Thursday as concerns grew over the security of energy infrastructure in the Middle East.
Two people were killed in a drone attack on the field owned by Saudi Aramco. International benchmark Brent crude rose 2.4% to $111.40 a barrel as of 06:00 GMT.
West Texas Intermediate also gained 2.22% to trade at $99.30. The rise in prices recouped some of the losses recorded earlier in the day.
The United States asked some personnel serving at its diplomatic missions in Saudi Arabia, along with family members, to leave the country. The decision further heightened concerns over tensions in the region.
Another development affecting the global supply outlook was a large-scale drone attack by Ukraine this week targeting Russia’s oil infrastructure. The attacks took place as Moscow sought to increase diesel exports under an agreement between U.S. President Donald Trump and Russian President Vladimir Putin.
Shipments from Middle East could limit price gains
Increased crude oil shipments from the Middle East could limit the rise in prices. As export flows are expected to approach pre-war levels, Saudi Arabia’s crude oil exports rose 7.9% in August to their highest level since March.
Russia’s first diesel shipment was expected to reach the United States on Thursday.
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