Mideast Attacks Again Rattle Energy Markets
October 11, 2023--Written by Paul Wiseman for Industrial Info Resources (Sugar Land, Texas)--With 1,600-plus reported dead and dozens taken hostage in Hamas' surprise attacks on Israel on Saturday, energy markets were predictably roiled.
In the aftermath, both West Texas Intermediate (WTI) and Brent Crude reversed weeklong price slumps. Late Monday Brent was up 4.19% from Friday's close, at $88.35 per barrel. WTI was up 4.29% at $86.34 per barrel. Also, Reuters reported that Israel has shut down natural gas production in the Tamar field, the country's second-largest offshore Mediterranean field. The nation's largest natural gas field, Leviathan, continues to produce, said Chevron, which operates both fields. Subscribers to Industrial Info's Global Market Intelligence Oil & Gas Production Plant Database can click here for plant profiles of the Tamar and Leviathan operations.
