Brent oil

This attack was declared an attack on the “global oil economy” by the Houthis which further ignited hike in the global oil prices.

Given the tight situation of global crude stockpiles and the persistent uncertainty surrounding Russian petroleum, it is cautioned that the decline in oil prices may be “short-lived.”

In a statement, the UAE’s ambassador to Washington has told the media that they “favour production increases and will be encouraging OPEC to consider higher production levels.”