Browsing: Oil prices

The oil market rebounded on Tuesday following a strong bearish trend that plunged crude prices lower on Monday following Israel’s retaliatory attack on Iran at the weekend. While it is still not clear if and how Iran will retaliate, the market is clearly of the view that supply risks have eased for now, ING said in a note.

Brent crude oil prices fell sharply to a nine-month low, resulting in a sell-off that was magnified by a surge in the US dollar, making USD-priced commodities more expensive for investors, Australia’s ANZ Bank said in a Monday note.

Oil prices increased on Thursday on concerns over tight global supplies ahead of the winter months. International benchmark Brent crude traded at $90.50 per barrel, an increase of 0.75% from the closing price of $89.83 a barrel in the previous trading session.