|
|
Oil surged more than $1/barrel on shipping concerns, strong US job dataInternational benchmarks for crude oil experienced a notable surge of over $1/barrel on Friday, 5 January 2024 driven by the lingering concerns over the shipping issues in the Red Sea. |
|
International benchmarks for crude oil experienced a notable surge of over $1/barrel on Friday, 5 January 2024 driven by the lingering concerns over the shipping issues in the Red Sea. Danish shipping giant – Maersk, said it will divert all vessels away from the Red Sea while warning customers of disruption.
Meanwhile, a strong set of job data in the US also supported expectations that demand for fuel would remain strong.
Brent crude futures were up $1.10/barrel or 1.42% to close at $78.69/barrel.
WTI crude futures rose $1.45/barrel or 2.01% to settle at $73.64/barrel.
