Oil prices increased in Wednesday trading, 16‑7‑2025, supported by expectations of continued demand growth in both the United States and China, the world’s two largest oil consumers, amid signs of improving global economic projections.
Brent crude futures increased 0.2 percent to record USD 68.87 per barrel. U.S. West Texas Intermediate crude contracts increased about 0.3 percent to reach USD 66.78. This increase comes after a two‑day decline, as the market largely ignored the potential supply disruption following U.S. President Donald Trump’s threat to impose tariffs on buyers of Russian oil.
Source (CNBC Arabia Website, Edited)
