Omani Oil Exports Back to Normal After Drone Attack
Reuters reported the terminal suspended oil loading after an explosion near its mooring berths, with Brent at $95.37 a barrel.
- On Friday, Oman's Mina Al Fahal terminal suspended oil loading following an alleged drone attack near its single-buoy mooring berths, Reuters reported.
- Oman's location outside the Strait of Hormuz made the terminal attractive to oil buyers seeking to avoid regional hostilities, positioning it as a safer loading alternative.
- Brent crude rose 0.35% to $95.36 a barrel Friday, while West Texas Intermediate traded at $93.06 following a 3.1% loss on Thursday as markets reacted to the instability.
- Hezbollah leader Naim Qassem rejected a US-brokered ceasefire agreement Thursday, dimming hopes for ending Israeli strikes on Lebanon and the broader United States-Iran conflict.
- Despite the Middle East conflict and Strait of Hormuz closure, OPEC Secretary General Haitham Al Ghais confirmed Thursday the organization maintains its 1.2 million barrels per day demand growth forecast.
22 Articles
22 Articles
What we know about the reported explosion at Oman’s oil terminal
Reports of an explosion and alleged drone attack at Oman's Mina al Fahal port have raised questions about a further escalation of tensions in the Middle East, despite authorities insisting that crude export operations are continuing as normal. According to news agency Reuters, which cited three sources familiar with the matter, an explosion struck near the facility's single-buoy mooring (SBM) berths on Friday. The incident happened amid contin…
Oil edges lower after Oman says Mina al Fahal operations proceeding normally
LONDON: Oil prices edged lower after Oman said operations at Mina al Fahal port were proceeding normally, following a Reuters report that oil loadings had been suspended after an explosion.
Oil rises as gold slips amid geopolitical tensions and strong dollar
Singapore/ London, June 5 (SANA) Global oil and precious metals markets moved in opposite directions on Friday, with crude prices edging higher on geopolitical risks and supply concerns, while gold and other metals declined under pressure from a stronger U.S. dollar and shifting expectations over U.S. interest rates. Brent crude rose 0.35% to $95.36 per barrel, while West Texas Intermediate gained to $93.06, supported by ongoing uncertainty in t…
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