Commodities
Oil Prices Rise Amid Ongoing Uncertainty Over Supply
Oil prices have risen again in the global market due to ongoing uncertainty over oil supply. According to trading data, the price of Brent crude rose by $0.63, or 0.6%, to $105.91 per barrel at 12:30 a.m. Greenwich Mean Time.
In the US market, West Texas Intermediate (WTI) crude oil prices increased by $0.72, or 0.8%, to $93.32 per barrel during the same time period.
The increase in oil prices is attributed to concerns over potential disruptions to crude oil exports from the Middle East due to ongoing conflict.
Market analysts warn that if the conflict persists, crude oil supply could become even more uncertain, further impacting global supply and oil prices.