Brent crude jumps, settles up over $3 after tanker attacks
USO•USO•USO•USO•Brent crude settled up $3.67, or 3.88%, at $98.29 a barrel on Thursday, while U.S. crude gained $2.40, or 2.72%, to $90.52. Tanker incidents in the Gulf raised concerns about oil supplies.
Brent crude futures settled up $3.67, or 3.88%, at $98.29 a barrel on Thursday, and U.S. West Texas Intermediate crude closed up $2.40, or 2.72%, at $90.52. Both benchmarks had fallen more than 8% on Wednesday to their lowest settlement levels since August 31.
At least five vessels have reported incidents in the Gulf since Sunday, the UK maritime security agency UKMTO said. The pace was similar to October, when 35 vessels were hit, the most in any month of the war. Analysts said tanker attacks and uncertainty over dependable shipping and deliveries continued to worry oil investors.
Eurasia Group lowered its estimate for renewed U.S. strikes on Iran to 60% from 65%, cut the probability of a deal to 10% from 20%, and raised the likelihood of a continued standoff to 30% from 15%. It said escalation could push Brent into a $110 to $125 per barrel range.
