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BNO - Weekly Energy Recap: Traders Keep Their Heads Amid Increased Risk To Tankers
United States Brent Oil Fund LP ETV
While insurers seem to have responded to the increased risks to shipping, oil traders are more sanguine. (Reuters)
Oil seems to be steady in the $60 per barrel range for Brent even if the risks for tankers in the Arabian Gulf have gone up.
Counterintuitively, the latest attacks on tankers in the Gulf of Oman, which ratcheted up regional tensions, did not have the same effect on the oil price, which ended the week lower.
Brent crude and WTI prices deteriorated to $62.01 and $52.51 per barrel respectively. In the past, even an isolated tanker