Washington, July 30 (SANA) Oil prices declined on Thursday, retreating from sharp gains recorded in the previous session, as energy shipments continued through the Middle East amid heightened regional tensions.
Brent crude futures fell $1.29, or 1.42%, to $89.45 a barrel, while US West Texas Intermediate (WTI) crude dropped 56 cents, or 0.66%, to $83.90 a barrel, according to Reuters.
Brent crude had surged 7.91% at Wednesday’s settlement, while WTI rose 6.56%, following losses of more than 5% a day earlier amid developments related to the US-Iran conflict.
Earlier Thursday, the US Central Command CENTCOM) said it had targeted dozens of sites linked to the Iranian Revolutionary Guard inside Iran, which it said was in response to missile launches targeting US forces in the region.
Meanwhile, Qatar sent its first liquefied natural gas (LNG) shipment through the Strait of Hormuz since a tanker attack in the waterway earlier this month, Reuters reported.
The Al Areesh LNG carrier, which loaded a cargo at Qatar’s Ras Laffan facility in early July, exited the Strait of Hormuz on July 29 and was heading toward Pakistan, according to ship-tracking data.
The shipment follows a pause in QatarEnergy’s LNG shipments through the strategic waterway after the attack on the Al Rekayyat gas carrier.
More than a dozen LNG tankers remain near Ras Laffan, according to tracking data. However, renewed tensions between the United States and Iran continue to raise concerns over the security of energy flows through the Strait of Hormuz, a key route for global oil and gas supplies.
I.Z/M.F
