Yemen's Houthis Say Naval Forces Carried Out Operation Targeting British Oil Tanker Marlin Luanda In Gulf Of Aden
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Yemen's Houthi group has claimed responsibility for an operation targeting the British oil tanker Marlin Luanda in the Gulf of Aden, according to Reuters. The incident could potentially affect oil supply routes and market perceptions of risk in the region.
January 26, 2024 | 7:05 pm
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The United States Oil Fund (USO) may experience volatility due to increased geopolitical risk in a key oil shipping route following the Houthi operation against the Marlin Luanda tanker.
The targeting of the Marlin Luanda by Yemen's Houthis in the Gulf of Aden raises concerns over the security of oil transportation in the region. This could lead to a perceived increase in risk for oil supply disruptions, potentially driving up oil prices in the short term. As USO tracks the price of oil, any increase in oil prices due to geopolitical risks could result in a positive impact on USO's share price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70