Oil prices hold near $105 per barrel as Trump eases sanctions on Russian fuel
Oil prices fell on Tuesday after increasing nearly $2 a barrel the previous session. Concerns over energy supply disruptions from ongoing conflicts in the Middle East influenced market sentiment. Meanwhile, US sanctions on Russian fuel were temporarily lifted, allowing for additional diesel supply. OPEC revised its demand growth forecast downward, indicating overcapacity in the market.
Key Takeaways
- Oil prices fell on Tuesday after increasing nearly $2 a barrel the previous session.
- Concerns over energy supply disruptions from ongoing conflicts in the Middle East influenced market sentiment.
- Meanwhile, US sanctions on Russian fuel were temporarily lifted, allowing for additional diesel supply.
Oil prices fell on Tuesday after increasing nearly $2 a barrel the previous session. Concerns over energy supply disruptions from ongoing conflicts in the Middle East influenced market sentiment. Meanwhile, US sanctions on Russian fuel were temporarily lifted, allowing for additional diesel supply. OPEC revised its demand growth forecast downward, indicating overcapacity in the market.
Original Publisher Attribution
This summary was curated from Times of India.