Oil prices increased by 1 percent, ending a five-day losing streak, supported by signs of stable demand in the United States—the world’s largest oil consumer—although uncertainty over the broader economic effects of U.S. tariffs limited the gains.
Brent crude futures rose 62 cents, or 0.9 percent, reaching $67.51 per barrel, while U.S. West Texas Intermediate (WTI) crude reached $65.03 per barrel, an increase of 68 cents, or 1.1 percent. Both benchmark crudes had fallen by about 1 percent to their lowest levels in 8 weeks after statements by U.S. President Donald Trump regarding progress in talks with Moscow.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
