28.02.202308:52:00UTC+00Oil Prices Rise As Investors Await Inventory Reports

Oil prices rose on Tuesday amid Russian supply jitters and optimism around China's demand recovery.

Benchmark Brent crude futures climbed 0.7 percent to $82.59 a barrel, while WTI crude futures were up 0.9 percent at $76.33.

Oil prices received some support amid fears surrounding Russia's plan to deepen oil supply cuts.

Russia plans to cut oil exports from its western ports by up to 25 percent in March versus February, exceeding its previously announced production cuts of 5 percent of its output during the month.

China is holding its annual parliamentary meeting from this weekend, with investors awaiting new economic policy targets and policies to support growth. Markets also await the latest U.S. inventory data from the American Petroleum Institute industry group later today and Energy Information Administration on Wednesday for further clarity on oil demand.

  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
  • Chancy Deposit
    Deposit your account with $3,000 and get $3000 more!
    In September we raffle $3000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.
Widget callback