09/02/2024 Crude Oil News Posted By https://www.smarttradecalls.com/. Chat on Whatsapp:-7668674900

Crude Oil Prices Rise Due To Increasing Middle Eastern Tensions And Supply Concerns.

Crude oil prices surged by 2.87%, settling at 6307, driven by renewed tensions in the Middle East, intensifying concerns about supply disruptions.

Israeli Prime Minister Benjamin Netanyahu’s rejection of a ceasefire offer from Hamas, coupled with the possibility of further U.S. military actions against Iranian forces, heightened geopolitical risks.

On the demand side, official data revealed a substantial 3.15 million barrels decrease in U.S. gasoline inventories, surpassing the forecast of 140,000 barrels. 

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