Oil maintains its gains for a fourth day as geopolitical tensions escalate
Oil prices maintained their gains, today, Tuesday, for the fourth day in a row, as potential sales of Venezuelan crude seized by the United States were met with growing concerns about supply disruptions after Ukrainian attacks on Russian ships and docks.
And Brent rose 7 cents to reach $62.14 a barrel by 09:59 GMT, while the price of US West Texas Intermediate crude rose 4 cents to reach $58.05.
Oil prices rose by more than 2% yesterday, Monday, as Brent crude recorded its largest daily gain in two months, while West Texas Intermediate crude recorded its largest rise since last November 14.
It is expected "Barclays Bank" In a memorandum dated Monday that Oil flows are at good levels in the first half of 2026, but he indicated that the oil surplus will decline to only 700 thousand barrels per day in the last quarter of 2026, and that prolonged turmoil may lead to further tightening of the market.
Russia launched an attack on the Ukrainian port of Odessa on the Black Sea, late Monday evening, damaging port facilities and a ship, in the second attack on the region in less than Ukrainealso supports Russian maritime logistics, focusing on oil tankers belonging to Russia’s shadow fleet, which is used to circumvent sanctions imposed on Moscow.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
