Urgent: Oil rises for the second day in a row amid fears that supplies will be affected
Oil prices rose today, Wednesday, for the second day in a row, supported by fears of unrest Supplies, and hopes of reaching a trade agreement between the United States and China.
Brent crude futures rose 2% to $62.56 per barrel by 06:45 GMT, while US West Texas Intermediate crude futures rose 2.1% to $58.44.
This rise comes against the backdrop of Postponing the expected summit between US President Donald Trump and his Russian counterpart, Vladimir Putin, and fears that supplies will be affected in light of Western governments’ pressure on Asian buyers to reduce their purchases from Russian Oil.
Tony Sycamore, a market analyst at… "IG Australia"Market strength on Wednesday was also driven by heavy selling in cryptocurrencies and precious metals such as Goldand silver, as well as escalating tensions between the United States and Venezuela, one of the world’s largest oil producers.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
