World News
Crude Futures Jump as US Warns of Iranian Missile Strike on Israel
Tuesday October 1, 2024
Crude futures jumped on Tuesday afternoon amid reports of a planned Iranian missile strike on Israel.
ICE December Brent futures traded at $73.34/bl as of 3:20 PM in London, up by $1.64/bl from Monday's close. Earlier in the day the futures had been trading as low as $70/bl.
The US has warned Israel that Iran is planning to launch ballistic missiles at the country, the Times of Israel reported. The warning follows a series of attacks by Israel on Hezbollah in Lebanon over the past two weeks.
A large-scale strike by Iran could risk a widening of the conflict in the Middle East, with oil production and export facilities across the region under threat.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 548.00 | 0.50 | 677.50 | 2.00 |
| Rotterdam | 513.00 | 0.50 | 649.00 | 3.00 |
| Houston | 544.50 | 2.50 | 675.00 | 4.00 |
| Fujairah | 541.50 | 2.50 | 744.00 | 3.50 |
| Global 20 Ports Average | 572.00 | 2.50 | 758.00 | 2.50 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 3.00 |
| Global Average Bunker Price | 624.00 | 2.50 | 801.00 | 3.50 |
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