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Oil Edges up to Two-Week High on Lower US Output Forecast, Renewed Red Sea Attacks

Summary by Business Times
Oil prices edged up to a two-week high on Tuesday on forecasts for less US oil production, renewed Houthi attacks on shipping in the Red Sea, worries about US tariffs on copper and technical short covering.
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Oil prices have risen slightly this week, supported by growing geopolitical tensions in the Red Sea, a strategic area for world oil trade. This price rise, although modest, reflects the growing uncertainty in world energy markets, fuelled by recent events in this key region. The price of the Brent, the international benchmark, has crossed the mark of $70 per barrel for the first time in a few months. According to the specialized site Baril's Pri…

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Oil rises slightly with heightened tensions in the Red Sea Admin FCE 09 Jul 2025 - 12:27 Black gold prices rise a little further on Wednesday, driven by tensions in the Middle East and structurally stronger summer demand on the oil market.About 10:00 GMT (12:00 in Paris), the price of the Brent barrel of the North Sea, for delivery in September, was 0.37% to 70.41 dollars.Its American equivalent, the barrel of West Texas Intermediate, for delive…

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Oil prices rose this Wednesday, maintaining their highest levels since June 23, driven by attacks on Red Sea shipping and a forecast of lower oil production in the United States, with uncertainty about tariffs always at the bottom.At 4:57 a.m. CDMX time, Brent's futures earned 10 cents, or 0.1 per cent, at $70.25 a barrel, and West Texas Intermediate's in the United States advanced 15 cents, or 0.2 per cent, to $68.48.

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Investors King broke the news in on Tuesday, July 8, 2025.
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