Brent Crude Rises 1.5% Amidst Red Sea Tensions
In response to protests halting production in Libya’s top oil field, oil prices, particularly Brent crude, experienced a 1.5% surge. Tensions in the Red Sea, compounded by Houthi rebel attacks, contributed to concerns over disruptions in crucial oil transportation. As OPEC prepares for a February meeting to discuss production cut policies, analysts remain cautious about further reductions, emphasizing the delicate balance between geopolitical tensions and economic factors.
Bernice