Oil Prices Climb Nearly 2%, Brent Reaches One-Month High at $84.73 Per Barrel

Abu dhabi: Oil prices rose by around 2% at the close of trading on Tuesday, reaching their highest levels in a month. Brent crude futures gained $1.43, or 1.7%, to settle at $84.73 a barrel, while US West Texas Intermediate crude futures rose $1.20, or 1.5%, to close at $79.34 a barrel. According to Emirates News Agency, this increase in oil prices marks a significant shift in the market, as both Brent and US West Texas Intermediate crude futures experienced substantial gains. The rise reflects the market's response to various global economic factors influencing supply and demand dynamics.