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Asia midday crude futures: Ice Brent rises above $95/bl
Ice Brent crude futures rose further in early Asian trading as US and Iranian force strikes continued.
The Ice front-month November Brent contract was at $95.46/bl at 04:00 GMT, up by 81¢/bl from its settlement on 1 September August when it ended $4.16/bl higher.
The Nymex front-month October crude contract was at $90.70/bl, higher by 48¢/bl from its settlement on 1 September when it ended $4.46/bl higher.
Oil prices rose to its highest level since July as US and Iranian forces exchanged strikes on 1 September, following apparent Iranian attacks on Saudi tankers attempting to transit through the strait of Hormuz.
US strikes targeted Islamic Revolutionary Guard Corps (IRGC) installations beginning at 12:00 ET (16:00 GMT) on 1 September, said the US Central Command (Centcom), which oversees Middle East-based US forces.
The US strikes hit targets on Qeshm island in the strait of Hormuz and near Bandar Abbas in southern Iran, according to the IRGC-affiliated Iranian news agency Tasnim. IRGC said it launched missile and drone attacks against US bases in Jordan and Bahrain and claimed that an Iranian missile hit resulted in casualties at a Jordan-based US base. Centcom did not confirm the Iranian claim.
Centcom said the Tuesday attacks were a retaliation after two very large crude carriers (VLCCs) carrying Saudi crude were involved in separate security incidents in the strait of Hormuz.
The Pakistan Navy's Navarea IX service identified the tankers as the Sidr, rendered as "Sidar" in its warning, and the Senegal Prosperity. Both had loaded crude at Saudi Arabia's Juaymah terminal, according to Kpler data.
Meanwhile, US crude output rose by less than 1pc in June with gains offshore in the Gulf of Mexico and North Dakota more than offsetting declines elsewhere, the Energy Information Administration (EIA) said today.
Output nationwide averaged 13.79mn b/d in June, higher by 37,000 b/d from May, according to the EIA's Petroleum Supply Monthly report. The report was delayed a day because of technical difficulties.
Ice Brent crude futures rose further in early Asian trading as US and Iranian force strikes continued.
The Ice front-month November Brent contract was at $95.46/bl at 04:00 GMT, up by 81¢/bl from its settlement on 1 September August when it ended $4.16/bl higher.
The Nymex front-month October crude contract was at $90.70/bl, higher by 48¢/bl from its settlement on 1 September when it ended $4.46/bl higher.
Oil prices rose to its highest level since July as US and Iranian forces exchanged strikes on 1 September, following apparent Iranian attacks on Saudi tankers attempting to transit through the strait of Hormuz.
US strikes targeted Islamic Revolutionary Guard Corps (IRGC) installations beginning at 12:00 ET (16:00 GMT) on 1 September, said the US Central Command (Centcom), which oversees Middle East-based US forces.
The US strikes hit targets on Qeshm island in the strait of Hormuz and near Bandar Abbas in southern Iran, according to the IRGC-affiliated Iranian news agency Tasnim. IRGC said it launched missile and drone attacks against US bases in Jordan and Bahrain and claimed that an Iranian missile hit resulted in casualties at a Jordan-based US base. Centcom did not confirm the Iranian claim.
Centcom said the Tuesday attacks were a retaliation after two very large crude carriers (VLCCs) carrying Saudi crude were involved in separate security incidents in the strait of Hormuz.
The Pakistan Navy's Navarea IX service identified the tankers as the Sidr, rendered as "Sidar" in its warning, and the Senegal Prosperity. Both had loaded crude at Saudi Arabia's Juaymah terminal, according to Kpler data.
Meanwhile, US crude output rose by less than 1pc in June with gains offshore in the Gulf of Mexico and North Dakota more than offsetting declines elsewhere, the Energy Information Administration (EIA) said today.
Output nationwide averaged 13.79mn b/d in June, higher by 37,000 b/d from May, according to the EIA's Petroleum Supply Monthly report. The report was delayed a day because of technical difficulties.
By Rhalain Reyes