MELBOURNE : Oil prices rose 1 per cent in early trade on Tuesday, clawing back more of last week's losses as the focus returned to tight supply of crude and fuel products versus concerns about a recession hitting demand down the track.
U.S. West Texas Intermediate crude futures rose to $111.51 a barrel, up $1.95, or 1.8 per cent, from Friday's close. There was no settlement on Monday, which was a U.S. public holiday. WTI dropped 9.2 per cent last week. "The market remains cautious about disruptions to Russian oil as European sanctions kick in," ANZ Research analysts said in a note.
"It's a tension that we're going to see unfolding for the rest of this year," said Justin Smirk, senior economist at Westpac.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen: