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7/18, 8:28 AM (Source: TeleTrader)
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Oil prices reverse course, rise over 1%

Prices of crude oil futures erased previous losses on Monday and went up by over 1% after traders reassessed United States President Joe Biden's trip to the Middle East and a lack of a formal agreement on an increase in oil production by Gulf countries. In addition, the US dollar decreased slightly, seemingly helping the demand for crude in other currencies.

West Texas Intermediate (WTI) for settlements in August rose by 0.95% to sell for $98.52 per barrel at 2:04 am ET, while Brent for deliveries in September increased by 1.26%, going for $102.43 per barrel at 2:14 am ET.

Baha Breaking News (BBN) / MS