Brent Crude Oil is above $95, Supported by Concerns about Supply Scarcity

  • International
  • 19 September 2023
1

Oil prices continued to rise for the third week in a row, and increased in early trading on Tuesday for the fourth consecutive session, as weak shale oil production in the United States raised more concerns about tight supply caused by the extension of production cuts from OPEC+".

U.S. West Texas Intermediate crude futures rose $1.02, or 1.12 percent, to $92.5 a barrel, slightly below Monday's 10-month high, while Brent crude futures rose 60 cents, or 0.64 percent, to $95.03 a barrel.

Source (Al-Arabiya.net Website, Edited)

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