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As we reported earlier, oil prices rose on Wednesday after Yemen’s Iran-aligned Houthi rebels said they attacked a Saudi oil tanker in the Red Sea, denting hopes of a de-escalation in Iran war hostilities that could restore shipping traffic and oil flows in the region. Brent crude futures were up 81 cents, or 1.02%, at $80.17 a barrel by 12pm GMT. US West Texas Intermediate futures gained 34 cents, or 0.45%, to $76.11. The Houthis said they had launched a missile attack on a Saudi oil tanker off the coast of Yanbu, a key port for Saudi crude oil exports. This is the eighth ship they have attacked since 22 July, when they announced that they were imposing a naval blockade on Saudi Arabia.
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As we reported earlier, oil prices rose on Wednesday after Yemen’s Iran-aligned Houthi rebels said they attacked a Saudi oil tanker in the Red Sea, denting hopes of a de-escalation in Iran war hostilities that could restore shipping traffic and oil flows in the region. Brent crude futures were up 81 cents, or 1.02%, at $80.17 a barrel by 12pm GMT. US West Texas Intermediate futures gained 34 cents, or 0.45%, to $76.11. The Houthis said they had launched a missile attack on a Saudi oil tanker off the coast of Yanbu, a key port for Saudi crude oil exports. This is the eighth ship they have attacked since 22 July, when they announced that they were imposing a naval blockade on Saudi Arabia.
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