The Lebanese Presidency announced Saturday seizing a huge shipment of hashish in the Port of Sidon Jieh before it was set to be smuggled into Egypt.
Brent crude futures had risen 42 cents, or 0.6 percent, to $74.35 a barrel by 0648 GMT, after gaining 0.7 percent on Wednesday.
Egypt’s General Authority for Supply Commodities (GASC) announced it has purchased 420,000 tons of wheat from Russia and Romania on Tuesday.
Egypt received its first 2 million-barrel crude oil shipment coming from Iraq on Feb. 15.
This pushed up the total quantities received from Iraq to 12 million barrels.
The decision on whether Egypt will accept or not a wheat shipment coming from Romania after poppy grains were detected in it is yet to be made by Attorney General Nabil Sadeq.
The Agriculture Quarantine and Inspection Authority at Safaga port prevented unloading a 63 thousand ton shipment of wheat coming from Romania.