Crude oil prices rise on U.S. shutdown resolution
after close1 source ↓written by the desknot a recommendation
- oil prices increased
- 0.75%
- ₹5,360
- if Russian output
- $70
Crude oil prices increased 0.75% to ₹5,360, driven by improved demand expectations following the end of the U.S. government shutdown. This development has enhanced sentiment around energy consumption. However, geopolitical tensions persist, particularly with U.S. sanctions affecting Russia's oil revenues and potential sanctions on trading partners.
• Supply risks emerged after a Ukrainian attack disrupted operations at Russia’s Novorossiysk port, though loadings have resumed.
• Goldman Sachs predicts oil prices may trend lower through 2026 due to a supply surplus, but Brent could exceed $70 if Russian output declines significantly.
Not investment advice. For informational purposes only.