Oil Jumps to November Highs After Another Merchant Ship Attack
- Fuel tanker operating for Trafigura struck by missile
- WTI closes above $78 in biggest weekly gain since October
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Oil rallied to the highest price in two months after a fuel tanker was struck near Yemen, underscoring the geopolitical risks to crude supplies.
West Texas Intermediate rose to top $78 a barrel, the highest price since November. The ship operating on behalf of trading giant Trafigura Group was hit by a missile about 55 miles southeast of Aden, Yemen. Futures for refined products, including diesel and gasoline, also jumped to two-month highs.