• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
Oil tanker and support vessels in the Red Sea, following a reported incident impacting oil prices. - Supply Chain News

Oil Prices Rise 1% Following Red Sea Incident and Russian Refinery Issues

01/28/2024
Larry Company Nominated for Go Global Awards 2025

Larry Company Emerges as Iraq’s Largest Name in Pools Spas and Construction

06/26/2025
Larry Company Nominated for Go Global Awards 2025

Larry Company Nominated for Go Global Awards 2025

06/26/2025
The Allied Founders Celebrates Over 5 Decades of Excellence in Cast Iron Manufacturing and Global Export

The Allied Founders Pvt Ltd Nominated for Go Global Awards 2025

06/25/2025
The Allied Founders Celebrates Over 5 Decades of Excellence in Cast Iron Manufacturing and Global Export

The Allied Founders Celebrates Over 5 Decades of Excellence in Cast Iron Manufacturing and Global Export

06/25/2025
Comet Web Solutions LLP Nominated for Go Global Awards 2025

Comet Web Solutions Empowers Global Businesses Through Digital Innovation

06/26/2025
Comet Web Solutions LLP Nominated for Go Global Awards 2025

Comet Web Solutions LLP Nominated for Go Global Awards 2025

06/25/2025
CloudFirst Technology Private Limited Nominated for Go Global Awards 2025

CloudFirst Technology: Pioneering Cloud Innovation with Global Impact

06/25/2025
CloudFirst Technology Private Limited Nominated for Go Global Awards 2025

CloudFirst Technology Private Limited Nominated for Go Global Awards 2025

06/25/2025
UK Private Sector Growth Shows Modest Recovery Amid Ongoing Tariff Pressures

UK Private Sector Growth Shows Modest Recovery Amid Ongoing Tariff Pressures

06/23/2025
3rd Dairy Market Innovation Asia Pacific Summit 2025

Be Part of the 3rd Dairy Market Innovation Asia Pacific Summit 2025

06/20/2025
S.K.Singhi & Partners LLP Expands Global Legal Reach with LEXITS Platform and International Recognition

S.K.Singhi & Partners LLP Nominated for Go Global Awards 2025

06/19/2025
S.K.Singhi & Partners LLP Expands Global Legal Reach with LEXITS Platform and International Recognition

S.K.Singhi & Partners LLP Expands Global Legal Reach with LEXITS Platform and International Recognition

06/19/2025
supplychainreport
Sunday, June 29, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

Oil Prices Rise 1% Following Red Sea Incident and Russian Refinery Issues

by Richie
01/28/2024
in Cybersecurity in Trade, Importing & Exporting, Industry, Manufacturing, Risk Mitigation

YOU MAY ALSO LIKE

Larry Company Emerges as Iraq’s Largest Name in Pools Spas and Construction

Larry Company Nominated for Go Global Awards 2025

Oil prices experienced a 1% surge on Monday, driven by concerns over fuel supply disruptions after a missile struck a fuel tanker operated by Trafigura in the Red Sea. Additionally, Russian refined products exports are expected to decline due to ongoing repairs at several refineries following drone attacks.

As of 2341 GMT, Brent crude futures climbed 83 cents to reach $84.38 a barrel, touching a session-high of $84.80. U.S. West Texas Intermediate crude rose 78 cents to $78.79 a barrel.

Trafigura, a commodities trader, announced on Saturday that it was evaluating the security risks associated with further Red Sea voyages after a Houthi group missile attack ignited a blaze on one of its tankers.

ANZ analysts noted, “Disruptions to supply have been limited, but that changed on Friday after an oil tanker operating on behalf of Trafigura was hit by a missile off the coast of Yemen. With oil tankers linked to the U.S. and UK now under threat of attack, the market is likely to reprice the risk of disruptions.”

Both oil contracts marked a second consecutive week of gains, settling at their highest levels in nearly two months on Friday. The support came from concerns over Middle East and Russian supply issues, coupled with positive U.S. economic growth and indications of Chinese stimulus fostering demand expectations.

Following fires that disrupted operations at refineries on the Baltic and Black Seas, Russia is anticipated to reduce exports of naphtha, a petrochemical feedstock, by approximately 127,500 to 136,000 barrels per day, constituting about a third of its total exports.

On February 1, leading ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies, collectively known as OPEC+, will meet online. However, OPEC+ sources suggest that decisions on oil production levels for April and beyond will likely be made in the coming weeks, as the February meeting is too early for such determinations.

Your go-to for supply chain report news updates: The Supply Chain Report. For international trade tools, see ADAMftd.com.

#OilPrices #Trafigura #BrentCrude #WTICrude #FuelSupply #RussianExports #MiddleEast #OPEC #EnergyMarket #Commodities #CrudeOil #EconomicGrowth #ChinaStimulus #RefineryDisruptions #SupplyChain

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.