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International crude oil prices rebound on Aug 6

8 Aug 2024 14:58 reported by Liv Wang

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International crude oil prices rose on August 6 as the market was concerned over supply constraints, bouncing back from a previous low. The two major crude oil futures have stopped falling.

Protests have significantly impacted Libya's oil production, and the broader conflicts in the Middle East may have further implications for oil production in the region. Traders are evaluating the potential tightening of market supply.

West Texas Intermediate (WTI) crude for September delivery increased by US$0.26 (0.4%), reaching US$73.20/barrel on the New York Mercantile Exchange. Brent crude for October delivery rose by US$0.18 (0.2%), settling at US$76.48/barrel.

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