Oil rises as a tanker attack keeps Hormuz supply risks in focus
Crude gains in early trading; the December Brent contract is expiring, making contract labels especially important.
Oil prices rose in early Friday trading as concerns about shipping through the Strait of Hormuz remained in focus. Reuters and AP both reported higher crude prices, though their observation times and quoted levels differed.
At 8:45 a.m. GMT, Reuters put December Brent futures at $117.15 a barrel, up $2.27, or 1.98%, and U.S. West Texas Intermediate futures at $103.79, up $1.79, or 1.75%. These are early-session snapshots, not settlement prices. The exact readings are reported by Reuters and have not been independently confirmed by Ticker Den.
December Brent expires on Friday. Reuters quoted the more-active January contract separately at $112.99. A reader comparing oil headlines needs to check the delivery month as well as the time: those are different contracts, not two competing prices for the same contract.
Reuters, citing the United Kingdom Maritime Trade Operations, reported that a tanker was struck by explosive devices attached to its hull by a small boat. A separate Reuters account said the incident happened on Thursday northeast of Oman's Khasab, the fire was extinguished and the vessel continued its journey. It reported that the crew were safe and there was no environmental impact.
The incident details are reported by Reuters, citing UKMTO, and have not been independently confirmed by Ticker Den. The attacker was not immediately known. Reports of an attack should not be treated as proof that the entire strait is closed or that a specific quantity of oil has been lost.
For the previous session's oil context, see Thursday's Chain, Crude & Chips. This morning's prices remain provisional until later trading and the settlement.
