“Oil prices rose on Wednesday as market participants weighed geopolitical tensions and the prospect of OPEC+ continuing to cut supply amid weaker demand.”, — write: epravda.com.ua
Oil prices rose on Wednesday as market participants weighed geopolitical tensions and the prospect of OPEC+ continuing to cut supply amid weaker demand. Reuters writes about it. Brent crude futures were up 16 cents, or 0.2%, at $73.78 a barrel, while U.S. West Texas Intermediate crude futures were up 14 cents, or 0 .2% to $70.08. Brent crude posted its biggest gain in two weeks on Tuesday, rising 2.5%.Advertisement: A shaky truce between Israel and Hezbollah, South Korea’s limited declaration of martial law and a rebel offensive in Syria that threatens to draw forces from several oil-producing nations , – all this supported the growth of oil prices. However, oil markets are largely discounting the 2025 oversupply amid sluggish demand signals from the US and China, the world’s two largest economies, she added.Recall: Advertisement: OPEC+ is making progress in reaching an agreement to delay the recovery of oil production for another three months. Oil prices rose on Monday, December 2, thanks to factory activity in China and a shaky truce between Israel and Lebanon despite a ceasefire agreement.
