US Oil Jumps 5%, Barrel Price Reaches $87.70

U.S. West Texas Intermediate (WTI) crude prices rose by $4.23 per barrel, or 5%, to $87.70 as supply constraints from the Gulf persist amid the U.S.-Israeli war on Iran.اضافة اعلان

On Tuesday, energy ministers from the G7 failed to reach an agreement regarding the release of strategic oil reserves.

French President Emmanuel Macron is scheduled to hold a video call with G7 leaders tomorrow, Wednesday, to discuss the impact of the Middle East conflict on energy and the necessary measures to address the situation.
Source: Reuters