Tag: oil supply glut
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WTI Oil Rises as Geopolitical Shocks Meet Supply Glut
WTI oil up as sanctions weigh on Russian supply WTI crude climbed about 1.7% on Tuesday, extending a rough-and-tumble stretch for global markets that have wrestled with geopolitical shocks and a looming supply glut. Traders said the strength in prices was driven by a fresh wave of US sanctions targeting Russian oil, coupled with cautious…
