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[size=52]Oil prices rise on fears of tight supplies and a drop in the dollar[/size]
[size=45][You must be registered and logged in to see this image.]Oil prices rose slightly on Tuesday, recovering some of its losses earlier in the session, and after rising more than five dollars a barrel in the previous session, amid fears of tight supplies.
West Texas Intermediate crude futures for August delivery rose 36 cents to $102.96 a barrel. Crude jumped 5.1% on Monday, the biggest percentage increase since May 11.
The August contract for West Texas Intermediate crude expires on Wednesday, and the most-traded September futures contract recorded $99.74 a barrel, up 32 cents.
Oil prices were turbulent due to supply concerns after Western sanctions on Russian crude and fuel supplies led to disruption of commercial shipments to refineries and then to consumers, as well as increasing fears that the US Federal Reserve’s attempts to control inflation would lead to a recession that would reduce future demand for fuel.[/size]
[size=45][You must be registered and logged in to see this link.]
[size=52]Oil prices rise on fears of tight supplies and a drop in the dollar[/size]
[size=45][You must be registered and logged in to see this image.]Oil prices rose slightly on Tuesday, recovering some of its losses earlier in the session, and after rising more than five dollars a barrel in the previous session, amid fears of tight supplies.
West Texas Intermediate crude futures for August delivery rose 36 cents to $102.96 a barrel. Crude jumped 5.1% on Monday, the biggest percentage increase since May 11.
The August contract for West Texas Intermediate crude expires on Wednesday, and the most-traded September futures contract recorded $99.74 a barrel, up 32 cents.
Oil prices were turbulent due to supply concerns after Western sanctions on Russian crude and fuel supplies led to disruption of commercial shipments to refineries and then to consumers, as well as increasing fears that the US Federal Reserve’s attempts to control inflation would lead to a recession that would reduce future demand for fuel.[/size]
[size=45][You must be registered and logged in to see this link.]
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