Oil Climbs as Fresh Tanker Strike Highlights Risks Around Hormuz
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Oil nudged higher following attacks on shipping in and around the Strait of Hormuz, highlighting continued risks to vessels in the critical waterway. Brent traded near $73 a barrel. A laden liquefied natural gas carrier, Al Rekayyat, was hit by a projectile near the Omani coast as it exited the waterway. Axios reported that two vessels were hit and suffered damage. The world’s biggest shipping trade group said transits through Hormuz may dip after the latest incidents, though there will still be shipowners willing to take the risk of crossing. A convoy of vessels, including oil tankers, appeared to be making its way along the Oman route on Tuesday. Mike McGlone, Senior Commodity Strategist for Bloomberg Intelligence, joined Bloomberg's Paul Sweeney and Stacey Vanek Smith to talk the uncertain oil market during the ongoing conflict in Iran. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloo
Tags: Brent Crude, Commodities, Donald Trump, Gas, Iran, Mike McGlone, Natural Gas, Ocean, Oil, Paul Sweeney, Stacey Vanek Smith, Strait of Hormuz, Trade, United States Air Force, War, War; Military Actions, petrol
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