Oil prices rise on uncertainty over OPEC+ cuts and Middle East tensions

December 5, 2023
Posted by: AliensFaith
Category: OBJECTIVE PRESS

Oil prices rose as uncertainty loomed over voluntary output cuts by OPEC+, tensions in the Middle East, and positive economic signals in Europe. Brent crude futures increased by 0.8% to $78.66 a barrel, while US West Texas Intermediate crude futures went up by 0.9% to $73.19. Saudi Arabia’s energy minister’s comments supported prices, suggesting that OPEC+ production cuts could continue beyond Q1 2024. Additionally, the resumption of fighting in the Israel-Hamas war and attacks on commercial vessels in the Red Sea raised supply concerns.

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

how can we help you?

Oil prices rise on uncertainty over OPEC+ cuts and Middle East tensions

Share this:

Share this:

Discover more from Maheri Network