Oil extended gains for a fourth day in asia trade: with Brent and WTI near three-week highs. Brent crude edged up 26 cents to around $91.28 a barrel, while US WTI crude rose 37 cents to around $85.31. Both contracts closed Tuesday at their highest levels since July 24.
According to Emirates News Agency, the steady rise in oil prices comes as traders and investors remain optimistic about the market's outlook, driven by signs of strong demand and potential supply constraints. The recent price hike reflects ongoing trends in the energy market, where geopolitical tensions and production decisions by major oil-producing countries continue to influence pricing.