Categories: Market

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

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