WTI oil prices fell more than 1%, approaching the $73 level as investors eased concerns. After being told that cargo ships would start sailing again in the Red Sea.
At 7:30 pm Thai time, West Texas Intermediate (WTI) crude oil price for delivery in February. less $0.84 or 1.13% to $73.27/barrel.
Maersk is a large Danish shipping company. Having announced that he would resume sailing in the Red Sea. This comes after the US and more than 10 partner countries launched Operation Prosperity Guardian to protect shipping lanes in the Red Sea from Houthi attacks.
Markets will be keeping an eye on the US Energy Information Administration’s (EIA) crude oil inventory release today after the American Petroleum Institute (API) said oil stocks rose by 1.84 million barrels last week. In contrast, analysts were expecting a drop of 2.7 million barrels.
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