(News Bulletin 247) – Black gold prices rose sharply this Tuesday after new attacks in the Red Sea. This particularly benefits the heavyweight of the coast, Totalenergies.

Oil prices are rising again after new attacks this weekend in the Red Sea. This renewed tension in the area is forcing shipowners and other oil companies to bypass this strategic artery for world trade.

The price of a barrel of Brent from the North Sea, for delivery in March, soared by 2.1% to $78.64, while its American equivalent, a barrel of West Texas Intermediate (WTI), for delivery in February, recovered. 2% to $73.06.

The US military announced this weekend that it had sunk three boats belonging to Yemen’s Houthi rebels. She then provided assistance to a container ship belonging to the Danish shipowner Maersk, the latter having reported having been attacked for the second time in 24 hours while sailing in the Red Sea.

Since December, these multiple attacks have disrupted global maritime traffic. Stifel recalled in this regard that the Red Sea and, by extension, the Suez Canal constitute “one of the main arteries of container trade”, in a note published last month.

Totalenergies progresses on the stock market

On the Paris Stock Exchange, oil stocks are rising in the wake of the rebound in black gold prices. Heavyweight on the stock market, Totalenergies rose by 1.9% while Vallourec gained 2.6% and Technip Energies appreciated by 1.4% this Tuesday around 11:10 a.m.

This renewed tension in this strategic area of ​​world trade therefore gives some fuel to the prices of black gold, after a year of 2023 in sharp decline. The two global oil benchmarks ended the year down around 10%, despite the strategy of OPEC+, that is to say the states affiliated to the Organization of the Petroleum Exporting Countries. (OPEC) and their allies, to put pressure on supply with voluntary production reductions.