Oil prices climb above $89 as supply risks linger amid Middle East tensions
Brent crude rose 1.2% to $89.30 per barrel on renewed geopolitical tensions and slower U.S. inventory builds. Traders cited disruptions in the Red Sea corridor and tightening OPEC supply as key drivers. Analysts expect prices to remain range-bound between $86 and $91 in the short term. The gains lifted energy equities globally, though broader markets stayed cautious ahead of next week’s U.S. inflation data and bond yield movements.
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1 day ago
Oil prices climb above $89 as supply risks linger amid Middle East tensions
Brent crude rose 1.2% to $89.30 per barrel on renewed geopolitical tensions and slower U.S. inventory builds. Traders cited disruptions in the Red Sea corridor and tightening OPEC supply as key drivers. Analysts expect prices to remain range-bound between $86 and $91 in the short term. The gains lifted energy equities globally, though broader markets stayed cautious ahead of next week’s U.S. inflation data and bond yield movements.
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Oil prices climb above $89 as supply risks linger amid Middle East tensions
2 days ago
1 min read
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Brent crude tops $89 as supply disruptions and Middle East tensions tighten global oil markets.
Brent crude rose 1.2% to $89.30 per barrel on renewed geopolitical tensions and slower U.S. inventory builds. Traders cited disruptions in the Red Sea corridor and tightening OPEC supply as key drivers. Analysts expect prices to remain range-bound between $86 and $91 in the short term. The gains lifted energy equities globally, though broader markets stayed cautious ahead of next week’s U.S. inflation data and bond yield movements.
Brent crude rose 1.2% to $89.30 per barrel on renewed geopolitical tensions and slower U.S. inventory builds. Traders cited disruptions in the Red Sea corridor and tightening OPEC supply as key drivers. Analysts expect prices to remain range-bound between $86 and $91 in the short term. The gains lifted energy equities globally, though broader markets stayed cautious ahead of next week’s U.S. inflation data and bond yield movements.