Oil prices edged up on signs of near-term supply tightness, offsetting bearish sentiment on demand. Brent futures rose 0.18% to $72.02 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 0.19% to $68.25. OPEC downgraded its forecast for global oil demand growth in 2024 and 2025, citing weakness in China. The IEA is set to publish its updated forecast on Thursday. Markets could be affected by a supply disruption from Iran or further escalation between Iran and Israel.
image sourced from original article at https://www.dailymail.co.uk/wires/reuters/article-14075723/Oil-trims-losses-tight-near-term-supply.htmlOriginal article source: https://www.dailymail.co.uk/wires/reuters/article-14075723/Oil-trims-losses-tight-near-term-supply.html
Source Id: 8408774495
