Oil Prices Reach Multi-Week Highs Amid Global Supply Concerns
Oil prices rose over 6% to their highest levels in weeks due to concerns over prolonged disruptions in Middle Eastern supply, including U.S.-Iran negotiations and inventory drawdowns. Brent crude and U.S. West Texas Intermediate futures both hit multi-week highs, with analysts warning of further price increases if supply disruptions continue.
Topics: Brent crude crude inventory drawdown oil prices supply concerns U.S.-Iran negotiations West Texas Intermediate