Oil futures continued trading near two-week highs after a surge triggered by escalating ship attacks in the Red Sea, prompting major shipping companies to divert routes and heightening concerns over global oil supply.
Following attacks and disruptions in the Red Sea region, BP Plc and Equinor announced halting shipments, leading to a nearly 3% surge in oil prices on Monday. The Yemeni Houthi rebels' attack on a Norwegian tanker added to the tension.
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