Oil Prices Fluctuate Amid Supply & Demand Signals

  Published 1 year ago

Crude oil futures experienced volatility, initially rising over 1% on reports of a potential Israeli strike on Iran, but then falling after a surprising increase in US crude inventories signaled weakening demand. Brent and WTI prices closed down 0.4%.

  • Initial price surge fueled by geopolitical risk.
  • US inventory build sparked demand concerns.
  • Brent settled at $65.12, WTI at $61.80.

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