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Spot prices for some Middle East crude sold outside the Persian Gulf have fallen as shippers navigate the Strait of Hormuz more smoothly despite attack threats, with Iraqi Basra Medium selling at nearly a $10/barrel discount to Dubai crude, even as Brent futures head for a third straight weekly gain near May highs; ING's Warren Patterson said the divergence reflects lingering fears that shipping stability could break if attacks resume.
Jin1010/23, 02:47 PM
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10/23, 11:00 AM10/24, 03:59 AM
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Jin1010/24, 08:04 AM
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Attacks on ships in the Strait of Hormuz have surged to record levels in October.