Tag: oil supply glut


  • WTI Oil Rises as Geopolitical Shocks Meet Supply Glut

    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…