The Latest News Regarding Crude Oil Futures. Posted By C/w:-6396479818

Crude Oil Gains On Supply Tightness Amid Output Cuts From Major Producers.

Crude oil closed higher by 1.84% at 6600, driven by supply tightness attributed to ongoing output cuts by major producers and signals from the U.S. Federal Reserve chief indicating potential rate cuts later in the year. The Energy Information Administration (EIA) reported a rise in U.S. crude stocks by 1.4 million barrels to 448.5 million barrels in the week ended March 1, contrary to expectations of a 2.1 million-barrel increase. 

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