Oil Prices Soar, Houthi Attack Threatens Red Sea Supply Route
Newsmaker.id - World oil prices rose again in Thursday's trading after the risk of energy supply disruptions increased.
The price increase was triggered by attacks by the Iran-backed Houthi group on two Saudi oil tankers in the Red Sea. The group claimed the vessels were attacked with missiles and drones for violating their maritime blockade.
UK Maritime Trade Operations reported that a vessel was on fire after being hit off Saudi Arabia's southwest Red Sea coast. The incident marked the first attack on a tanker in the region and opened a new flashpoint amid ongoing threats to shipping through the Strait of Hormuz.
Brent's price at the time of this analysis was released was at $92.87
- Buy if the price moves to $92.60
- Sell if the price moves to $93.35
Resistance 2: $94.00
Resistance 1: $93.56
Support 1: $92.43
Support 2: $91.74
Note: This article is analytical and not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id