Marginal increase for oil prices amidst Middle East tensions

Economy

Published: 2024-02-13 15:16

Last Updated: 2024-04-14 03:11


Marginal increase for oil prices amidst Middle East tensions
Marginal increase for oil prices amidst Middle East tensions

Oil prices edged up slightly Tuesday amid concerns that tensions in the Middle East could disrupt supply, but uncertainty about the pace of potential United States interest rate cuts and its impact on demand limited this impact.

Brent crude futures rose by 7 cents, or 0.1 percent, to reach USD 82.07 per barrel, while West Texas Intermediate (WTI) crude increased by 10 cents, or 0.1 percent, to USD 77.02 per barrel, according to Bloomberg.

US inflation data is expected to be released Tuesday evening, with Eurozone inflation and Gross Domestic Product data scheduled for release on Wednesday.