Brent Oil Futures Rise $8.20 To Hit $100 a Barrel. Oman Evacuates Ships From Oil Terminal in Precautionary Move

Brent oil futures rose $8.20 to hit $100 a barrel. Oman has evacuated all vessels from its key oil export terminal at Mina Al Fahal as a precautionary measure, according to people who directly received a notice from a port agent.

Mina Al Fahal, which sits outside the Strait of Hormuz, is one of the few remaining ports from which Middle Eastern crude can be shipped to global markets. Iranian attacks in the wider region, however, have made the waters nearby unsafe.

The Oman port authority and the local port agent didn’t immediately respond to requests for comment outside business hours.

The evacuation order came after drones struck fuel tanks at Oman’s Salalah Port on Wednesday, while others were intercepted, according to the state-run Oman News Agency, which cited a security source. Salalah has since suspended operations at its container and general cargo terminals, while other Omani ports are working normally, according to a report from Inchcape Shipping services.

The evacuations in Oman show how the Middle Eastern crisis is deepening and now threatening oil shipments from terminal outside the Hormuz strait. Loadings from Fujairah, in the United Arab Emirates and also outside the strait, are continuing, but some shipowners are avoiding the port due to the risk of attacks. Saudi Arabia, meanwhile, is sending oil via a pipeline to Bunyan on its Red Sea coast.

Around 1 million barrels a day of Omani oil are exported from Mina Al Fahal, according to data intelligence firm Kpler. The grade was priced at around $121 a barrel as of Wednesday’s close, well above global benchmark Brent.