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Saudi Arabia to suspend oil shipments

By A/S Global Risk Management.



Michael Poulson, Global Risk Management. Image credit: Global Risk Management


Updated on 27 Jul 2018 06:23 GMT

Oil prices increased for the third consecutive day on Thursday after Saudi Arabia suspended oil shipments through a strait in the Red Sea after an attack by Yemen's Iran-aligned Houthi movement, and as trade tensions between the United States and the European Union eased.

After meeting European Commission President Jean-Claude Juncker at the White House on Wednesday, U.S. President Donald Trump agreed to refrain from imposing car tariffs while the European Union and the United States start talks on cutting other trade barriers. Globally, markets remain worried about the heated tariff dispute between the United States and China, as investors fear that the trade war has just turned even more on China.

U.S. crude oil inventories last week declined more than expected to their lowest level since 2015, according to the EIA.

The dollar index .DXY, which tracks the dollar against a basket of six major rivals, fell 0.2 percent to 94.139.



A/S Global Risk Management is a provider of customised hedging solutions for the management of price risk on fuel expenses. The company has offices in Denmark and Singapore. For further details about its risk management products and services, please call +45 88 38 00 00 or email hedging@global-riskmanagement.com.






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