Advertisements

U.S. Crude Oil Prices Climb Over 2%, Surpassing $72 Per Barrel

by Krystal

U.S. crude oil futures rose on Tuesday, building on nearly 2% gains from the previous session.

Prices have rebounded somewhat after a significant drop last week. Traders are increasingly confident that a supply disruption in the Middle East, linked to tensions between Israel and Iran, is unlikely.

Advertisements

However, weak demand in China has been a drag on prices recently. On Monday, Beijing lowered its benchmark lending rates, which provided some support to the futures market.

Advertisements

Here are the closing energy prices for Tuesday:

Advertisements

West Texas Intermediate (WTI): The November contract closed at $72.09 per barrel, up $1.53, or 2.17%. Year-to-date, U.S. crude oil prices have increased nearly 1%.

Advertisements

Brent Crude: The December contract settled at $76.04 per barrel, up $1.75, or 2.36%. Year-to-date, the global benchmark has seen a decline of more than 1%.

RBOB Gasoline: The November contract finished at $2.0675 per gallon, up 2.62%. Year-to-date, gasoline prices have decreased by more than 1%.

Natural Gas: The November contract closed at $2.304 per thousand cubic feet, down 0.35%. Year-to-date, natural gas prices have fallen about 8%.

Related Topics:

Advertisements
Advertisements

You may also like

oftrb logo

Oftrb.com is a comprehensive energy portal, the main columns include crude oil prices, energy categories, EIA, OPEC, crude oil news, basic knowledge of crude oil, etc.

【Contact us: [email protected]

© 2023 Copyright oftrb.com – Crude Oil Market Quotes, Price Chart live & News [[email protected]]