Date
7/22/2024 6:09:44 AM
(MENAFN- AzerNews)
Nazrin Abdul
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Oil prices have risen significantly in global markets recently,
Azernews reports.
On the London ICE (InterContinental Exchange Futures) platform,
the price of a barrel of brent crude oil has climbed by $0.49 to
reach $83.12. Meanwhile, on the NYMEX (New York Mercantile
Exchange), the price for a barrel of Light crude oil has increased
by $0.43, bringing it to $80.56.
Recent geopolitical developments in key oil-producing regions
have also contributed to market uncertainties. Tensions in the
Middle East and disruptions in oil transportation routes have
heightened concerns over future supply stability.
Positive economic indicators, such as strong growth in major
economies and increasing industrial output, have bolstered
expectations for sustained oil demand. These indicators have
supported higher oil prices as investors anticipate future market
conditions.
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