Oil prices rise amid shifts toward supply growth and demand prospects
Oil prices rose today, Tuesday, though gains were limited due to increasing supply and demand expectations, as well as easing tensions in the Middle East. Brent crude futures gained 28 cents to $72.29 per barrel, while West Texas Intermediate (WTI) crude increased by 29 cents to $68.84. Meanwhile, investors are monitoring talks between the United States and Iran concerning navigation in the Strait of Hormuz and Gulf exports. Estimates indicate that the UAE increased its production to more than 3.8 million barrels per day—its highest level since April 2020—following its exit from OPEC+ alliance in May.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)