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Oil edged higher on heightened supply concernsOil edged higher on heightened supply concerns |
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International benchmarks for crude oil settled higher on Tuesday, 25 October 2022 on heightened supply concerns after Saudi’s Energy Minister warned countries not to misuse crude oil stocks, stoking speculations that supply might be tightened moving forward. Besides, International Energy Agency remarked that the world is in the first truly global energy crisis, pointing to the tight LNG supply worldwide.
Brent rose 26 cents to close at $93.52/barrel.
WTI added 74 cents to close at $85.32/barrel.
