Russia and Houthi terrorists confluence drive up the price of oil

<p>On Monday I posted on Russia's plans to further restrict oil exports:</p><ul><li><a href="https://www.forexlive.com/news/russias-novak-says-considering-additional-oil-export-cuts-of-about-50000-bpd-in-december-20231217/" target="_blank" rel="follow" data-article-link="true">Russia's Novak says considering additional oil export cuts of about 50,000 bpd in December</a></li></ul><p>Adam posted on Monday in US time on the disruption to trade, including oil shipments, due to Middle East escalation:</p><ul><li><a href="https://www.forexlive.com/news/oil-climbs-2-with-eyes-on-the-red-sea-20231218/" target="_blank" rel="follow">BP has paused all tanker transits through the Red Sea </a></li></ul><p>In addition to BP's announcement, shipping giants MSC, Hapag-Lloyd, CMA CGM and Maersk all announced a suspension of travel through the Red Sea </p><p>Put it all together and oil traded higher on the day:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.