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Nine cents more than the previous day: Oil prices at ten-month high

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North Sea Brent oil at around US$90 a barrel: Oil prices remain at their highest in ten months. (archive image)

That was nine cents more than the previous day. The price of an American quality West Texas Intermediate (WTI) barrel delivered in October also rose slightly to $86.78.

Crude oil prices rose sharply on Tuesday after Saudi Arabia and Russia extended existing production cuts until the end of the year. The two oil giants, along with other countries in the OPEC+ oil network, have been experiencing shortages for some time.

This has increased oil prices significantly in recent weeks. According to experts, it cannot be ruled out that prices will increase further due to scarce supply and high demand. (SDA)

Source :Blick

Tim

I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.

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Tim

I'm Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor's Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.

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Nine cents more than the previous day: Oil prices at ten-month high

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