The oil falls from the Druzhba pipeline after the pumping of crude oil resumed

The oil falls from the Druzhba pipeline after the pumping of crude oil resumed
The oil falls from the Druzhba pipeline after the pumping of crude oil resumed

The oil falls from the Druzhba pipeline after the pumping of crude oil resumed

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Oil prices fell sharply on Wednesday as Russian oil supplies to Hungary resumed via the Druzhba pipeline and earlier gains were given up after an attack on an oil tanker off the coast of Oman.

Brent crude futures were down $1.88, or two percent, to $91.98 a barrel by 1418 GMT, while US West Texas Intermediate crude futures were down $2.29, or 2.6 percent, to $84.63 a barrel barrels fell.

The two benchmarks rose sharply after an oil tanker was attacked off the coast of Oman, causing minor damage, highlighting geopolitical risks on the world’s busiest oil shipping routes.

Three naval sources told Reuters that a drone was suspected of carrying out the attack on the tanker. An Israeli official said Iran was responsible for the attack using the Shahed-136 drone, which was shipped to Russia for use in Ukraine.

Prices fell afterwards as Hungarian Foreign Minister Peter Sjärto said on Wednesday that oil flow through the Druzhba pipeline, which carries Russian oil to Hungary, had resumed after a brief hiatus.

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