Oil Prices Slip Despite New Attacks Across the Middle East

Oil Prices Slip Despite New Attacks Across the Middle East

Oil prices have slipped despite new attacks across the Middle East. Reports suggest that oil tankers are still passing through the Bab el-Mandeb Strait, despite information about renewed strikes between the US and Iran, and a drone attack on a tanker in an Egyptian port. At the time of writing, Brent crude was trading at $89.46 per barrel, with West Texas Intermediate at $83.54 per barrel, both down by about 1% since Wednesday's close. The US Central Command has confirmed that a drone attack occurred in the Egyptian port of Suez, but the extent of the damage is not yet clear. The situation remains fluid, with oil prices likely to be affected by any further developments.