Tensions in the Middle East are escalating again as a tanker was reported on fire after explosive devices were attached to its hull while the vessel was attempting to transit outbound in the Strait of Hormuz.
Brent Crude oil prices are set to end the year at about $105 per barrel, bank ANZ said on Friday as it hiked its projection by $10 a barrel on the assumption that Middle East oil exports, shipping availability, and fuel supplies will remain constrained through December.
Curious Minds Corner
What is the “oil window”?
The range of temperature and burial conditions in which kerogen primarily generates liquid hydrocarbons.