Oil Could See Second Weekly Gain in a Row ...Middle East

OILPRICE - Economy
Oil Could See Second Weekly Gain in a Row
source : OILPRICE ( Middle East ) () 18
Oil prices have added 4% since the start of the week and may book the second consecutive five-day trading period for the past two months. The biggest reason for the spike is the situation in the Red Sea as cargo traffic gets diverted away from the Yemeni coast where Houthis target ships with ballistic missiles and drones. “The tensions in the Red Sea have largely boosted prices, but that’s been countered by uncertainty over supply,” Will Sungchil Yun, senior commodities analyst at SI Securities, told Bloomberg. “While it’s…

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