Reported 3 months ago
Oil futures saw a rebound of over $1 a barrel on Wednesday following the assassination of Hamas leader Ismail Haniyeh in Iran, which heightened tensions in the Middle East. Brent crude rose 1.5% to $79.80 a barrel, while U.S. West Texas Intermediate also increased by 1.5%, closing at $75.88. However, concerns about weak demand from China are keeping prices under pressure, with expectations of a significant monthly loss for July. Additionally, OPEC+ is set to discuss their production strategies in response to market conditions.
Source: YAHOO