Oil crosses $75 for the first time in two years
Al Jazeera
Investors remain bullish about a quick recovery in global oil demand even as concerns ease over the return of Iranian crude.
Crude oil prices rose on Tuesday, with Brent hitting $75 a barrel for the first time since April 2019, as investors remained bullish about a quick recovery in global oil demand and as concerns eased over an early return of Iranian crude. Brent crude futures for August climbed 29 cents, or 0.4 percent, to $75.19 a barrel by 06:58 GMT, paring earlier losses. It rose as high as $75.27 a barrel, the strongest since April 25, 2019, earlier in the session. US West Texas Intermediate (WTI) crude for July was at $73.66 a barrel, unchanged from the previous session. WTI for August climbed 13 cents, or 0.2 percent, to $73.25 a barrel.
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