5 Hrs
Source:
عين ليبيا
Russia affects oil markets amid inflation cues
Oil prices declined on Tuesday after their recent rise, amid Russia's efforts to increase diesel supplies and investor concerns over geopolitical tensions in the Gulf that threaten shipping routes and energy supplies. Fears of potential attacks on tankers or oil facilities persist. Brent crude fell by 1.1% to $105.47 per barrel, while West Texas Intermediate decreased by 1.3% to $92.57. Russia agreed to supply diesel to global markets, signaling a temporary lifting of U.S. sanctions, which boosts supplies and alleviates the global fuel shortage. However, security risks in the Gulf, including attacks on tankers and the Riyadh airport, continue to worry the market and hinder the recovery of oil prices. Meanwhile, attention is turning to U.S. inflation reports and interest rate indicators that influence gold prices, which rose supported by the decline in oil and expectations of rising inflation.
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