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And were starting with the latest incident in the volatile Gulf Region Oil prices have surged after what is believed to have been a missile strike on and ukrainian tanker in the red sea benchmark brant crude oil rose over 2 percent in trading to reach 60. 40 a barrel after this beauty was hits off the saudi port city of jeddah the ship was headed towards iran or in the gulf it was the latest strike by an unknown attacker on Oil Facilities in the gulf region a bombing office saudi arabias largest Oil Processing facility this summer caused a 10 percent spike in the oil price but markets calmed quickly as output was restored. For more im joined now by joseph head of oil and gas and alice is at Fitch Solutions in london good to have you with us so you comparison to th ....
Latest incident is relatively minor in comparison to last month s attack on iran co s facilities there was no impact on oil facilities here and we don t expect any disruption to markets you know with the trade of crude going for as you mentioned earlier in the segment prices did rise above 2 percent however they have since moderated about one percent gains off the news so this point it seems to be a relatively minor impact to oil markets but the international energy agency certainly warns that there is some volatility that is having an effect on energy prices but there are all the also all the factors weighing on the energy market could you elaborate on that. that s correct so from our view here future lesions what we see is some definitely bearish sentiment in the market place this person meant is really predicated off the view that the global economy is ....
The oil market. thank you monica the latest it s the to is relatively minor in comparison to last month s attack on iran co s facilities there was no impact on oil facilities here and we don t expect any disruptions markets you know with the trade of crude going for as you mentioned earlier in the segment prices did rise above 2 percent however they have since moderated about one percent gains off the news so this point it seems to be a relatively minor impact of the oil markets but the international energy agency certainly warns that there is some volatility that is having an effect on energy prices but there are all the also all the factors weighing on the energy market could you elaborate on that. that s correct so from our view here what we see is some definitely bearish sentiment in the marketplace this person ....