Novak said tensions in the Red Sea are affecting the oil market

2024-02-01T13:19:12.850Z

Highlights: Russian Deputy Prime Minister Alexander Novak said tensions in the Red Sea, as well as the conflict in the Middle East, have an impact on what is happening in the oil market. Novak explained that since the escalation began, trade relations and transport and logistics chains have changed significantly. This in turn has a impact on freight costs and a shortage of tankers, he added. As Bloomberg previously wrote, owners of ships, mainly oil tankers,. expect increased tensions with shipping disruptions in the. Red Sea.

Russian Deputy Prime Minister Alexander Novak said that tensions in the Red Sea, as well as the conflict in the Middle East, have an impact on what is happening in the oil market.