{"id":8127,"date":"2019-10-11T17:22:00","date_gmt":"2019-10-11T12:22:00","guid":{"rendered":"http:\/\/umang.pk\/2019\/10\/oil-climbs-to-60-as-iran-tanker-attack-reignites-mideast-risk\/"},"modified":"2019-10-11T17:22:00","modified_gmt":"2019-10-11T12:22:00","slug":"oil-climbs-to-60-as-iran-tanker-attack-reignites-mideast-risk","status":"publish","type":"post","link":"https:\/\/umang.pk\/ur\/2019\/10\/11\/oil-climbs-to-60-as-iran-tanker-attack-reignites-mideast-risk\/","title":{"rendered":"Oil climbs to $60 as Iran tanker attack reignites Mideast risk"},"content":{"rendered":"
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Sharon Joe and Elizabeth Rowe, Bloomberg<\/p>\n


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Friday, October 11, 2019 7:22 AM: CDT
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    This photo, released by SHANA's official Iranian Ministry of Petroleum, shows that Iranian tanker Sabiti is traveling the Red Sea on Friday, October 11, 2019. Iranian officials said Friday that there were fewer recent events in the region (via AP via SHANA), with Saudi Arabia increasing tensions between Tehran and the United States.<\/div>\n
    This photo, released by SHANA's official Iranian Ministry of Oil, shows Iranian tanker Sabiti traveling the Red Sea on Friday, October 11, 2019. Two missiles hit an Iranian tanker.<\/div>\n

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      This photo, released by SHANA's official Iranian Ministry of Petroleum, shows that Iranian tanker Sabiti is traveling the Red Sea on Friday, October 11, 2019. Iranian officials said Friday that there were fewer recent events in the region (via AP via SHANA), with Saudi Arabia increasing tensions between Tehran and the United States.<\/div>\n
      This photo, released by SHANA's official Iranian Ministry of Oil, shows Iranian tanker Sabiti traveling the Red Sea on Friday, October 11, 2019. Two missiles hit an Iranian tanker.<\/div>\n


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      Oil rises to $ 60 as Iran tankers attack again<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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      The report of a missile strike against an Iranian tanker off the coast of Saudi Arabia rekindled fears of military expansion in the world's most important oil-producing region.<\/p>\n

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      Islamic Republican news agency said the tanker of the Iranian oil tanker company fired after the explosion, boosting the profit of the day to more than 2{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}, Brent futures surged about $ 1 a barrel. According to Iranian state media, two tanks on the Sabiti vessel were damaged by the explosion, while tankers were carrying one million barrels of crude oil near Saudi Arabia's Jeddah.<\/p>\n

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      The tanker blast will stimulate new concerns about potential conflicts in the Middle East with attacks on ships and drones earlier this year and Saudi Arabia's energy infrastructure, which cut global supplies by 5{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} last month. The price of possible progress in the trade disputes on Friday has already risen on Friday, providing a blur of hope for demand.<\/p>\n

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      Harry Tchilinguirian, director of commodity market strategy at BNP Paribas SA in London, said, \u201cThis event reminds us that geopolitical tensions in the region can affect supply.<\/p>\n

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      EARLIER: Oil Rising for Optimism on US-China Mini-Trade<\/strong><\/p>\n

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      Brent crude oil for the December settlement rose $ 1.55 (2.6{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}) to $ 60.65 per barrel on the London-based ICE futures European exchange. This week's contract rose 2.9 percent to $ 60.07 per barrel at 11:27 am in London.<\/p>\n

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      In November, West Texas Intermediate rose 96 cents per barrel to $ 54.51 on the New York Mercantile Exchange. The contract rose 96 cents to $ 53.55 on Thursday, hitting a week high. This week the price rose 3.2{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}.<\/p>\n

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      Tchilinguirian said the attack further weakens the international energy organization's outlook on the global market. The Paris-based IEA, which advises major economies, has lowered its outlook for rising global oil demand this year and reduced 100,000 barrels a day amid deteriorating economic conditions.<\/p>\n

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      The strike heightened tensions in the Middle East on September 14 attacks on Saudi Arabia's main oil processing facility, which is responsible for Iran. In July, US traps shot down Iranian drones, and the tankers targeted the Persian Gulf.<\/p>\n

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      With the help of James Thornhill.<\/p>\n

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      \u00a9 2019 Bloomberg L.P.<\/p>\n

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