Eco
Global oil markets witnessed a notable upward trend in prices during Tuesday's trading sessions, as US crude recorded widespread gains approaching one hundred and eight dollars per barrel, while Brent crude surpassed the threshold of one hundred and eleven dollars per barrel, achieving its highest level in five full months. Analysts at ING explained that this continuous rise in prices is fundamentally due to the market maintaining a very high risk premium amid ongoing geopolitical tensions and fluctuations, indicating that the decline of this premium remains conditional on the resumption of oil flows smoothly and without any notable obstacles, a matter for which no signs of realization appear on the horizon soon. In the same context, Kpler, a company specializing in monitoring vessel movements and maritime transport, revealed in a research memo issued yesterday, Monday, that reports indicated at least eighteen ships were subjected to sporadic attacks within just two weeks, which is the main factor keeping the risk premium in global energy markets at very high levels.
