The price of benchmark Brent crude rose more than 2% on Friday morning. Quotations began to rise after the Yemeni Houthis struck their targets in response to US and Great Britain attacks on international ships in the Red Sea, writes Reuters.
As of 10:08 Moscow time, March Brent oil futures were trading at $79.24 per barrel (+2.36%). February futures contracts of WTI oil increased by 2.32% to $73.69 per barrel. This is evidenced by ICE trade data.
USA and UK on the night of January 12 applied There have been numerous attacks on Houthi positions in Yemen with Tomahawk cruise missiles. US President Joe Biden said the targeted attacks sent a clear signal that Washington and its partners will not tolerate attacks on their people or allow hostile actors to jeopardize freedom of navigation.
Houthi attacks on commercial shipping in the Red Sea in October disrupted international trade on a key route between Europe and Asia, which accounts for about 15% of global shipping. International transport and logistics companies were forced to suspend transit through the waters and reroute ships via the Cape of Good Hope. This has led to longer delivery times, higher fuel costs and higher prices for shipping containers.
Vincent Clerk, formerly chairman of Danish transport and logistics company AP Moller-Maersk warned On the economic impact of disruptions to shipping in the Red Sea.