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Asia midday crude futures: Ice Brent holds steady
Ice Brent futures stayed largely unchanged during early Asian trading, despite Iran reiterating its claim that the strait of Hormuz is closed to commercial shipping after recent attacks against two vessels affiliated with UAE state-owned oil company Adnoc.
The Ice front-month October Brent contract was at $87.15/bl at 04:00 GMT, up by 8¢/bl from its settlement on 13 August when it ended $1.91/bl lower.
The Nymex front-month September crude contract was at $81.33/bl, up by 8¢/bl from its settlement on 13 August when it ended $2.02/bl lower.
The UAE's foreign ministry in a statement early on 14 August condemned an attack against two vessels affiliated with state-owned oil company Adnoc.
The UAE denounced "the hostile Iranian attack that targeted two vessels affiliated with Adnoc as they transited the strait of Hormuz". No injuries have been reported.
The UAE's foreign ministry said that targeting commercial shipping and using the strait of Hormuz as a "tool of economic coercion or blackmail represents represents acts of piracy by Iran's Revolutionary Guard Corps (IRGC), and constitutes a direct threat to the stability of the region, its peoples, and global energy security".
This brings the total number of Adnoc vessels struck to 18. The attacks have caused one fatality and 20 injuries to crew members.
Total transits via the strait of Hormuz on 12 August fell to three ships, all non-tanker transits on the US-supported southern transit lane along the coast of Oman, data from maritime security firm Windward show. Vessel traffic through the strait of Hormuz since the start of the war has been bifurcated between the northern Iranian-controlled transit lane and the southern US-supported lane.
Ice Brent futures stayed largely unchanged during early Asian trading, despite Iran reiterating its claim that the strait of Hormuz is closed to commercial shipping after recent attacks against two vessels affiliated with UAE state-owned oil company Adnoc.
The Ice front-month October Brent contract was at $87.15/bl at 04:00 GMT, up by 8¢/bl from its settlement on 13 August when it ended $1.91/bl lower.
The Nymex front-month September crude contract was at $81.33/bl, up by 8¢/bl from its settlement on 13 August when it ended $2.02/bl lower.
The UAE's foreign ministry in a statement early on 14 August condemned an attack against two vessels affiliated with state-owned oil company Adnoc.
The UAE denounced "the hostile Iranian attack that targeted two vessels affiliated with Adnoc as they transited the strait of Hormuz". No injuries have been reported.
The latest incident comes after an attack on another Adnoc vessel on 8 August.
The UAE's foreign ministry said that targeting commercial shipping and using the strait of Hormuz as a "tool of economic coercion or blackmail represents represents acts of piracy by Iran's Revolutionary Guard Corps (IRGC), and constitutes a direct threat to the stability of the region, its peoples, and global energy security".
This brings the total number of Adnoc vessels struck to 18. The attacks have caused one fatality and 20 injuries to crew members.
Vessel traffic through the strait of Hormuz collapsed on Thursday, with Iran doubling down on its assertion that the waterway is closed for commercial shipping.
Total transits via the strait of Hormuz on 12 August fell to three ships, all non-tanker transits on the US-supported southern transit lane along the coast of Oman, data from maritime security firm Windward show. Vessel traffic through the strait of Hormuz since the start of the war has been bifurcated between the northern Iranian-controlled transit lane and the southern US-supported lane.
By Rhalain Reyes