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Crude Rebounds Strongly

OIL

Crude has surged to be trading higher on the day, likely driven by reports that an oil tanker was hit in the Red Sea.

  • A merchant ship has been struck around 55m Southeast of Aden in the Red Sea, according to Ambrey analytics. Sources said this is the Marlin Luanda, carrying naphtha.
  • Until now, no oil tanker had experienced significant damage following attacks by the Houthis.
  • Brent MAR 24 up 1.2% at 83.46$/bbl
  • WTI MAR 24 up 1% at 78.11$/bbl

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