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US Crude Futures Decline 1.1% as Concerns about Shipping Disruptions Ease

This morning, Friday, December 29, 2023, saw US crude futures decline 1.1% to $73.29 per barrel.

The decline in oil prices by more than 1% today came with the decline of concerns about shipping disruptions along the Red Sea route, in addition to the continued escalation of tensions in the Middle East.

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In addition, US West Texas Intermediate crude futures fell 82 cents, or about 1.1%, to $73.29 per barrel.

The impact of the Red Sea attacks on oil markets is limited, but there is concern and fear that their impact will be reflected in the prices of goods with the rise in the cost of insurance for goods, which in turn affects the economy of the Kingdom of Saudi Arabia.

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2023-12-29 08:27:01
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