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Oil Prices Soar to 10-Month High as Brent Crude Tops $95 a Barrel


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Oil Prices Reach 10-Month High, Brent Crude Tops $95 a Barrel

Oil prices saw an increase in trading on Tuesday, as Brent crude surpassed $95 a barrel, marking its highest level in nearly 10 months.

American West Texas Intermediate Oil Futures Rise to $92.55 per Barrel

By 09:25 Moscow time, the futures for American West Texas Intermediate oil experienced a 1.17% boost, reaching $92.55 per barrel.

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Brent Crude Futures Reach $95.01 a Barrel, Highest in 10 Months

Simultaneously, global Brent crude futures climbed by 0.61% to $95.01 a barrel, propelling the price of crude oil to its highest point in approximately 10 months.

Growth Driven by Concerns over Oil Supply Reduction and Chinese Demand Recovery

This surge in oil prices is attributed to fears of a decrease in oil supplies to the market and is further supported by the anticipation of a recovery in demand from China.

Source: RT+Bloomberg

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