Oil is in the green on Thursday amid several factors, including unconfirmed reports that Turkey may be blocking Russian ships from entering the Bosphorus Strait, according to Benzinga Pro.
The United States Oil Fund LP (ETF) (NYSE: USO) is up 3 percent, with several oil names trending upward. Transocean LTD (NYSE: RIG) is recovering from a one-month low below $14 per share, while ENSCO PLC (NYSE: ESV), Statoil ASA(ADR) (NYSE: STO), Petroleo Brasileiro SA Petrobras (ADR) (NYSE: PBR) and several other sector names are trending upward. Brent Crude futures have risen nearly 5 percent.
What Sources Are Saying
A source involved in global oil freight contracts revealed tensions in the Turkish Straits are high and ...
/www.benzinga.com/trading-ideas/long-ideas/15/12/6020389/russia-facing-difficulty-in-turkish-straits-shipping-disrupti alt=Russia Facing Difficulty In Turkish Straits? Shipping Disruptions May Be Moving Global Oil Market>Full story available on Benzinga.com
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