Oil Prices Rise Amid Bargain Hunting, Cautious Investor Sentiment, and Economic Concerns
Oil prices witnessed a modest resurgence on Tuesday, propelled by opportunistic buying in response to the previous day’s decline. However, the extent of the gains was limited as investors maintained a prudent stance, considering the forthcoming policy determinations from central banks and lackluster economic indicators from China. Brent crude futures advanced by 1.1% to reach $72.64 per barrel, while U.S. West Texas Intermediate (WTI) crude recorded a 0.8% increase, reaching $67.64 per barrel.