Futures Movers: Oil prices climb after Saudis say attacks damaged tankers [MarketWatch]
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Source: MarketWatch
Oil prices climb after Saudis say attacks damaged tankers Oil prices climbed Monday after Saudi Arabia said two of its crude tankers were attacked near the Strait of Hormuz over the weekend. Prices were higher “on increasing concerns about supply disruptions in the Middle East even as investors and traders fretted over global economic growth prospects amid a standoff in the Sino-U.S. trade talks,” said analysts at ICICI Bank. Saudi oil minister Khalid al-Falih said through the country’s official press agency that there was ”significant damage” to the two tankers, as those vessels tried to cross into the Persian Gulf early Sunday morning, local time, the Wall Street Journal reported . West Texas Intermediate crude for June delivery CLM9, +0.06% rose $1.07, or 1.7%, to $62.73 a barrel on the New York Mercantile Exchange. A settlement around this level would be the highest since May 1 for a front-month contract, according to FactSet data. Global benchmark July Brent crude LCON9, +0.3
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