Oil Prices Reach Near Three-Week Highs for Fourth Consecutive Day

Oil prices continued their upward trend for the fourth consecutive day in Asia trade, hitting near three-week highs. Brent crude rose by 26 cents to approximately $91.28 a barrel, while US WTI crude increased by 37 cents to around $85.31.

Both contracts closed at their highest levels since July 24, indicating a sustained recovery in the oil market. This recent surge can be attributed to various factors, including supply and demand dynamics and geopolitical tensions.