Browsing: West Texas Intermediate

Oil prices saw a modest rebound on Tuesday, following a decline of more than 2% in the previous session for Brent crude and WTI. Brent futures increased by 27 cents, or 0.3%, reaching $92.44 a barrel at 0330 GMT. Meanwhile, U.S. West Texas Intermediate rose by 37 cents, or 0.4%, to settle at $85.38. This upward move came after Monday’s sharp retreat, ending six consecutive sessions of gains across both key crude benchmarks.

US stocks ended lower after oil prices surged and chipmakers sold off, leaving the Nasdaq with the steepest decline among major indexes.

Brent crude climbed above $79 while WTI passed $74 as fresh US-Iran attacks coincided with reduced shipping through the Strait of Hormuz.

Brent crude closed at $74.16 while WTI settled at $70.44, with oil markets tracking Iranian oil rules and Strait of Hormuz shipping.

Oil prices extended gains, settling above $72 a barrel as supply concerns, OPEC+ policy uncertainty, and a weaker U.S. dollar supported crude amid market volatility.