NYMEX Overview: Oil up $2 After New Strike on Mideast Tankers

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NYMEX Overview: Oil up $2 After New Strike on Mideast Tankers

Dow Jones00:02

Crude oil contracts rose by around $2 by midday Tuesday, following reports that two tankers in the Strait of Hormuz were struck by projectiles, intensifying supply fears amid a prolonged decline in shipping traffic through the key petroleum route.

At 11:40 a.m. ET, NYMEX October West Texas Intermediate crude futures were up $2.35 to $88.10/bbl and November WTI was up $1.85 to $85.90/bbl.

London-based October Brent was $2.05 higher to $92.50/bbl and November Brent was up $1.55 to $89.95/bbl.

On Monday, the oil benchmarks also gained about $2 on persistent worries over Middle East energy supply.

Diesel futures sharply outperformed those for gasoline following news of renewed attacks on vessels in the strait.

October ULSD was up 20.95cts to $4.62/gal and November ULSD was 19.95cts higher to $4.4515/gal. October RBOB was up 1.6ct to $3.097/gal and November RBOB was 3.5cts higher to $2.927/gal.

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