The reason the energy stocks are popping is the growing number of attacks in the Red Sea. For instance BP has announced a temporary halt to all shipments through the Red Sea due to increased attacks by Houthi militants in Yemen, leading to a surge in oil prices. Brent crude, the global benchmark, rose +1.1% to $77 a barrel — while U.S. oil increased by +1% to $72 a barrel.

Posted by Suze at 2023-12-19 00:15:35 UTC