Oil & Gas Prices - Dec 18

[dan_s]

At the time of this post:
> WTI oil was up $2.69 to $74.12
> HH natural gas was up $0.08 to $2.57

Trading Economics:
"Oil prices surged by over 3% on Monday, with WTI crude futures up to $74 per barrel, as rising attacks in the Red Sea led oil companies and tanker owners to steer clear of the region. Houthi militant assaults on commercial vessels in Yemen intensified over the weekend, causing major shipping companies to avoid the Suez Canal. BP Plc and Equinor ASA have halted shipments through the Red Sea, while Euronav NV is prioritizing safety and temporarily keeping its ships away from the area. In addition, Russia announced deeper oil export cuts in December, aiming to boost oil prices. The country also suspended a significant portion of its Urals crude loadings due to a storm."

Eventually there will be significant pressure on Team Biden to enforce sanctions against Iran. Iran is funding the Houthi and other militant groups that are attacking our military bases in Syria and Iraq. Plus, everyone knows that they back Hamas and Hezbollah.