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“The safety of our employees and those who work on our behalf is BP’s priority,” it said in a statement, quoted by Sky News. Following the decision, global oil prices rose.
Many major shipping companies have previously announced that they will avoid the sea route connecting the Red Sea to the Mediterranean via the Suez Canal. The route is important for world trade and the transportation of oil by sea.
By Monday evening, the barrel price of Brent crude oil was $78.54. This is an increase of over 2 percent compared to the previous day. The price of the American West Texas Intermediate (WTI) barrel for January delivery increased by $2.02 to $73.45.
Oil prices have been supported by a generally weaker dollar for several days. In the background, there is a possibility that key interest rates in the US will fall. (SDA/uro)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
