Oil prices edge up on geopolitical tensions; higher-than-expected US inventories cap gains

Quick Summary:

SINGAPORE: Oil prices rose marginally on Thursday as geopolitical concerns over escalating tensions between Russia and Ukraine countered the impact from a bigger-than-expected increase in U.S.crude inventories.

OPEC+, which pumps around half the world's oil, had initially planned to gradually reverse production cuts with minor increases spread over several months in 2024 and 2025.

Kyiv says it needs the capability to defend itself by hitting Russian rear bases used to support Moscow's invasion, which entered its 1,000th day this week.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: MalaysiaIndiaNorwaySingaporeUkraineUnited States

Topics: /Business/Business News Oil Crude Commodities WTI Petroleum Brent Opec

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 13:58:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 459 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 29 words per sentence (average)

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

Copyright Owner: © The Star

News ID: 23730284

View Article Analysis

About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 41 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 39 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

Frequently Asked Questions