Industry News
Oil prices rise on geopolitical tensions and strong US demand
Brent and WTI crude rose over 1% to two-week highs as stalled Ukraine peace talks and renewed Russian-Ukrainian tensions added geopolitical risk to the market. U.S. crude inventories fell 6 million barrels last week, signalling robust domestic demand and supporting prices. Traders are also watching the Jackson Hole conference for potential Fed interest rate guidance.
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