Brent futures erased an earlier decline of 1.6% to trade little changed in London. Traders have been awaiting indications of whether US efforts to end the war in Ukraine will be successful.
The attacks began ratcheting up late last week, with an attack on a fuel tanker off the coast of Senegal. The manager of that ship said it will cease to trade in Russia.
wwo large oil tankers then came under attack in the Black Sea and then, on Tuesday, a tiny vessel transporting sunflower oil.
If other companies were to grow wary of going to Russia, it could boost the cost of transporting the nation’s commodities to global markets.
“The most radical option is to cut Ukraine off from the sea, then piracy will be impossible in principle,” Putin said.
Sign up to Herald Premium Editor’s Picks, delivered straight to your inbox every Friday. Editor-in-Chief Murray Kirkness picks the week’s best features, interviews and investigations. Sign up for Herald Premium here.