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WTI crude hits $63 on after Saudi oil tankers sabotaged

Oil tankers attacked, crude hits highest since May 2

Oil has bucked worries about global growth because tensions in the Middle East are rising.

WTI crude oil is at a session high, up $1.51 to $63.18. The rise comes after Saudi Arabia said two of its oil tankers were sabotaged of the UAE coast.

The Saudi press said there was significant damage to the ships, which were set to load crude destined for the US.

This has been a strange saga with the UAE first denying that any attack or explosion took place.

On the flipside, China announced that it will place tariffs on US energy products but at the moment, that isn’t having an effect.

ForexLive

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