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Tanker Attack in the Gulf of Oman Sends Crude Oil Prices Up by as Much as 2%

Nazmi Haddyat Tamara 14/06/2019 11:39 WIB

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In the long term, global oil prices still have a downward trend.

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The attack on two oil tankers in the Gulf of Oman pushed global crude oil prices up by as much as 2% at the close of trading on Thursday (US time) or Friday morning (Indonesia time). This incident sparked concerns about a decrease in global crude oil supplies, as the attack occurred on one of the world's main oil shipping routes.

According to Bloomberg data, West Texas Intermediate (WTI) crude oil closed up at US$52.44 per barrel on the New York Mercantile Exchange. Meanwhile, Brent crude oil prices rose 2.3 percent to US$61.6 per barrel on the ICE Futures Europe exchange.

However, in the longer term, oil prices still have a downward trend. This is driven by concerns over a surge in crude oil inventories in the United States, reaching their highest level since 2017.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Tanker Attack in the Gulf of Oman Sends Crude Oil Prices Up by as Much as 2%

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Tanker Attack in the Gulf of Oman Sends Crude Oil Prices Up by as Much as 2%

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