Oil Updates – prices climb as tensions escalate in Middle East

SINGAPORE: Oil prices climbed on Monday after a drone attack on US forces in Jordan added to worries over supply disruption in the Middle East as Houthi rebels stepped up their attacks on vessels in the Red Sea, hitting a Trafigura-operated fuel tanker, according to Reuters.

Risks of a widening conflict comes as Russian refined product exports are set to fall, with several refineries under repair following drone attacks.

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