KONTAN.CO.ID - LONDON. Oil rose on Monday as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruptions and Russia's plan to lower exports in December provided additional support. Shipping firms, including the world's biggest container shipping line MSC and A.P. Moller-Maersk, said over the weekend that they would avoid the Suez Canal as Houthi militants in Yemen stepped up their assaults on commercial vessels in the Red Sea. Brent crude futures were up 17 cents, or 0.2%, to $76.72 a barrel by 0910 GMT, while U.S. West Texas Intermediate crude rose 48 cents, or 0.7%, to $71.91.
Oil Rises on Red Sea Jitters, Russian Export Cut
KONTAN.CO.ID - LONDON. Oil rose on Monday as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruptions and Russia's plan to lower exports in December provided additional support. Shipping firms, including the world's biggest container shipping line MSC and A.P. Moller-Maersk, said over the weekend that they would avoid the Suez Canal as Houthi militants in Yemen stepped up their assaults on commercial vessels in the Red Sea. Brent crude futures were up 17 cents, or 0.2%, to $76.72 a barrel by 0910 GMT, while U.S. West Texas Intermediate crude rose 48 cents, or 0.7%, to $71.91.