Monday, 29 January 2024 10:41 WIB | OIL |Minyak WTIMinyak jenis Brent

Oil prices climbed on Monday after a drone attack on U.S. 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.

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

Brent crude futures rose 29 cents, or 0.4%, to $83.84 a barrel by 0230 GMT after hitting a session-high of $84.80. U.S. West Texas Intermediate crude gained 34 cents, or 0.4%, to $78.35 a barrel after reaching an intraday high of $79.29 earlier in the session.

The attack on U.S. troops in a drone strike in Jordan raised concerns of a wider conflict in the oil-rich Middle East.

On Feb. 1, leading ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, known as OPEC+, will meet online.

However, OPEC+ will likely decide its oil production levels for April and beyond in the coming weeks, OPEC+ sources said, as the meeting would take place too early for decisions to be made on further output policy.

Source: Reuters