18 Hrs
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الخليج
Oil prices climb on lower US inventories
Oil prices rose by more than two dollars per barrel on Wednesday, supported by a 3.3 million barrel decline in U.S. oil inventories last week, as well as backing from OPEC+ and announcements of a three-month halt to production increases starting in October. This helped to sustain prices despite tensions stemming from the U.S.-Iranian conflict and efforts to de-escalate the situation in the Strait of Hormuz, amidst hopes of resuming negotiations between Washington and Tehran and ending the disruption of trade through the strait.
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