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Oil rises on supply concerns but economic woes cap gains


27 Sept 2023 06:47

27 Sept 2023 06:47

(Montel) Oil prices rose on Wednesday on persisting supply concerns, though economic concerns continued to put a cap on gains. 

The front-month contract for Brent crude North Sea oil was last seen up USD 0.81 at USD 94.77/bbl on Ice Futures, while the US WTI equivalent traded USD 0.91 higher at USD 91.30/bbl, with both benchmarks off 10-month highs.

Even though “undersupply concerns continued to fuel the upside momentum… oil prices face near-term resistance of their recent highs at about USD 93 for WTI and at about…

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