empty
 
 

2019.06.1306:21:00UTC+00Oil Prices Rally On Reports Of Tanker Explosion In Gulf Of Oman

Oil prices rebounded on Thursday after oil tankers reportedly came under attack in the Gulf of Oman, raising fears of a wider conflict.

Benchmark Brent crude rallied 3.5 percent to $62.05 a barrel, after tumbling 2.7 percent on Wednesday to reach its lowest level since Jan. 28.

U.S. West Texas Intermediate crude futures were up 2.9 percent at $52.64 a barrel, after falling 4 percent in the previous session to hit its lowest level since Jan. 14.

The Iranian state news media reported that multiple tankers had been seriously damaged. A shipping industry official was quoted as saying that at least two tankers had been hit.

"We are aware of the reported attack on tankers in the Gulf of Oman. U.S. Navy ships in the area are rendering assistance," the United States Fifth Fleet said in a brief statement.

Oil prices fell sharply in the previous session after the U.S. Energy Information Administration (EIA) reported an unexpected rise in U.S. crude stockpiles, dimming the outlook for global oil demand.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback