Oil Prices Rebound from 16-Week Lows

PUKMEDIA

Oil prices.

Brent crude rose to US $65.72 a barrel on Thursday, while West Texas Intermediate (WTI) traded at US $62.12, recovering slightly after hitting 16-week lows earlier in the week.

The rebound follows expectations of tighter sanctions on Russian crude, which have eased concerns over weakening global demand. Analysts say geopolitical tensions and upcoming supply decisions by OPEC+ will continue to shape market trends in the coming weeks.

Despite the uptick, prices remain under pressure from slowing economic activity in major markets and a stronger US dollar.



PUKMEDIA