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Oil up on Tuesday
Aya Anwar Published in Amwal Al Ghad on 12 - 06 - 2025

Oil prices rose on Tuesday after OPEC+ announced a smaller-than-expected output increase for October. Brent crude gained 51 cents, or 0.77 per cent, to $66.53 a barrel at 06:45 GMT, while US West Texas Intermediate (WTI) added 50 cents, or 0.8 per cent, to $62.76.
OPEC+ agreed on Sunday to raise production by 137,000 barrels per day (bpd) from October, well below the monthly increases of 555,000 barrels in August and September and less than market expectations.
Prices were also buoyed by speculation of fresh Western sanctions on Russia after intensified attacks on Ukraine, which could limit Russian oil supplies. Meanwhile, expectations of a US interest rate cut next week added support by potentially boosting demand.
Attribution: Reuters
Subediting: Y.Yasser

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