Reported 2 days ago
Oil prices climbed over 4% to a two-month high as the U.S. prepared to evacuate its embassy in Iraq due to growing security risks in the Middle East. Brent crude settled at $69.77 per barrel while West Texas Intermediate reached $68.15, influenced by geopolitical tensions and a new trade deal between the U.S. and China, anticipated to increase energy demand. The U.S. also reported a larger-than-expected drop in crude inventories, contributing to the bullish sentiment in the market.
Source: YAHOO