The price of West Texas Intermediate crude fell to nearly $75, easing concerns about the Red Sea crisis
InfoQuest – West Texas Intermediate crude oil prices fell to near the 75 level after reports that cargo ships will begin to resume sailing in the Red Sea.
At 7:47 pm Thailand time, the price of West Texas Intermediate crude for February delivery fell 44 cents, or 0.58%, to $75.13 a barrel.
Maersk, a major Danish shipping company; CMA CGM, a major French shipping company; The German company Hapag-Lloyd announced that it will resume sailing in the Red Sea. This comes after the United States and more than 10 partner countries launched Operation Prosperity Guardian to protect shipping lanes in the Red Sea from Houthi attacks.
This news caused West Texas Intermediate crude oil prices to decline after rising more than 2% yesterday due to reports that Houthi rebels used missiles to attack the merchant ship MSC United after the ship refused to change course. Although there are 3 warnings
Markets will be watching the American Petroleum Institute (API) crude oil inventory release today ahead of the US Energy Information Administration (EIA) release tomorrow.
Edith Wharton was a Pulitzer Prize-winning American novelist, short story writer, and designer best known for her insightful portrayals of upper-class society in the United States. Her works remain celebrated for their elegance, social commentary, and psychological depth.