WS #12918
WTI crude drops 5.34% and Brent 5.68% as optimism for US-Iran peace arrangement grows, benefiting container/packaging, chemicals, cruise, and travel stocks while lowering fuel costs. Houthis claim attack on Saudi oil tanker NCC Ghazal and strike Aramco fuel depot in Yanbu, marking fourth attack on Saudi oil facilities in 72 hours, but oil prices decline as markets focus on potential ceasefire.
Oil price decline amid Middle East de-escalation hopes
WTI crude drops 5.34% and Brent 5.68% as optimism for US-Iran peace arrangement grows, benefiting container/packaging, chemicals, cruise, and travel stocks while lowering fuel costs.
Houthis claim attack on Saudi oil tanker NCC Ghazal and strike Aramco fuel depot in Yanbu, marking fourth attack on Saudi oil facilities in 72 hours, but oil prices decline as markets focus on potential ceasefire.