_1777294007302_731105501.png&w=48&q=75){kind=small}
Oil prices rise 5% to 6-week high
Oil prices rose significantly by about 5%, marking their highest levels in over six weeks. The price of U.S. West Texas Intermediate (WTI) crude exceeded $90 for the first time since June 11. This increase comes amid escalating tensions in the region due to U.S. strikes on Iran and attacks on Yemeni vessels in the Red Sea. Brent crude oil prices jumped to $98.69, while WTI rose to $90.24, reflecting heightened military and naval tensions in the area. On another note, the U.S. Energy Information Administration reported a rise in oil inventories by 2 million barrels and a decline in refinery utilization rates, with expectations of inventories decreasing further.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)