Oil prices rise amid US Iran tension
Oil prices increased significantly at the end of the week due to attacks on oil tankers and the failure to reach a ceasefire agreement between the U.S. administration and Iran. Brent crude rose by $1.45 to reach $88.52 per barrel, while West Texas Intermediate (WTI) gained $1.15 to reach $82.40. Expectations suggest further gains, potentially up to 6% for Brent and 5.4% for U.S. crude. This rise comes amid disruptions in the Middle East oil supply and U.S. stockpiles exceeding three and a half years, at a time when the market is also facing an expected decline in demand.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)