23 December (Argus) — Ice Brent crude futures rose in early Asian trading hours as the conflict in the Middle East escalates.
At 04:00 GMT, the Ice front-month February Brent contract was at $73.28/bl, up by 34¢/bl from its settlement on 20 December when the contract ended 6¢/bl higher.
The Nymex front-month February crude contract was at $69.84/bl, up by 38¢/bl from its settlement on 20 December when the contract ended 8¢/bl higher.
Yemen-based Houthi militants have claimed responsibility for a hypersonic ballistic missile launched at a military target in Jaffa, Israel over the weekend. In response, Israeli prime minister Benjamin Netanyahu has vowed retaliation. "Just as we have acted forcefully against the terror arms of Iran's axis of evil, so too will we act against the Houthis," he said.
The Houthis have been carrying out regular aerial attacks against Israel for more than a year in support of the Palestinians in Gaza. The Israeli Air Force (IAF) last week struck "Houthi military targets" in Yemen, attacking ports and energy infrastructure.
Russian president Vladimir Putin has signed an order allowing transactions involving Rosneft shares. The decision could allow Rosneft to take control of or sell the 19.75pc stake abandoned by former second-largest shareholder BP.
An August 2022 decree by Putin banned the sale of strategic energy assets by investors from "unfriendly" countries, until he grants permission for such deals by a special order. Last year the decree was extended until the end of 2025.
The ban covers nearly all large Russian oil and gas projects with foreign shareholdings, including those held by BP, Shell and ExxonMobil. It complicates attempts by western major oil companies to exit Russian assets without giving up the value that they hold in them.
Refineries in Belarus are not receiving crude from Russia through the Druzhba pipeline system, but operations are stable because crude is available from stocks, state news agency Belta reports citing state-owned oil firm Belneftekhim.
It is unclear if the disruption extends to Hungary, Slovakia and the Czech Republic, although Hungary's integrated Mol hinted at such, saying oil deliveries will resume "in a few days".
In the US, a government shutdown was averted after the House of Representatives voted overwhelmingly to extend funding for US federal government agencies.
23 December (Argus) — Ice Brent crude futures rose in early Asian trading hours as the conflict in the Middle East escalates.
At 04:00 GMT, the Ice front-month February Brent contract was at $73.28/bl, up by 34¢/bl from its settlement on 20 December when the contract ended 6¢/bl higher.
The Nymex front-month February crude contract was at $69.84/bl, up by 38¢/bl from its settlement on 20 December when the contract ended 8¢/bl higher.
Yemen-based Houthi militants have claimed responsibility for a hypersonic ballistic missile launched at a military target in Jaffa, Israel over the weekend. In response, Israeli prime minister Benjamin Netanyahu has vowed retaliation. "Just as we have acted forcefully against the terror arms of Iran's axis of evil, so too will we act against the Houthis," he said.
The Houthis have been carrying out regular aerial attacks against Israel for more than a year in support of the Palestinians in Gaza. The Israeli Air Force (IAF) last week struck "Houthi military targets" in Yemen, attacking ports and energy infrastructure.
Russian president Vladimir Putin has signed an order allowing transactions involving Rosneft shares. The decision could allow Rosneft to take control of or sell the 19.75pc stake abandoned by former second-largest shareholder BP.
An August 2022 decree by Putin banned the sale of strategic energy assets by investors from "unfriendly" countries, until he grants permission for such deals by a special order. Last year the decree was extended until the end of 2025.
The ban covers nearly all large Russian oil and gas projects with foreign shareholdings, including those held by BP, Shell and ExxonMobil. It complicates attempts by western major oil companies to exit Russian assets without giving up the value that they hold in them.
Refineries in Belarus are not receiving crude from Russia through the Druzhba pipeline system, but operations are stable because crude is available from stocks, state news agency Belta reports citing state-owned oil firm Belneftekhim.
It is unclear if the disruption extends to Hungary, Slovakia and the Czech Republic, although Hungary's integrated Mol hinted at such, saying oil deliveries will resume "in a few days".
In the US, a government shutdown was averted after the House of Representatives voted overwhelmingly to extend funding for US federal government agencies.
By YouLiang Chay