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Oil climbs on supply worries, US tariffs check gains

The Star LogoThe Star6h ago

Oil climbs on supply worries, US tariffs check gains - The Star

Quick Summary:

Oil prices edged up to a two-week high on Tuesday as sanctions raised concerns about Russian and Iranian oil supplies and on rising Middle East tensions, outweighing worries that trade tariffs would boost inflation and dampen global economic growth.

Analysts forecast energy firms added about 3.0 million barrels of oil to US stockpiles during the week ended Feb.7.

"With the US bearing down on Iranian exports and sanctions still biting into Russian flows, Asian crude grades remain firm and underpin the rally from yesterday," PVM oil analyst John Evans said.


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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-12 @ 05:52:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 725 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 26093442

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About The Star

The Star Logo

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 25 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 32 minutes ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

Publisher Details

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  • URL: https://chronographically.beamstart.com/news/oil-climbs-on-supply-worries-17393156155069

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