Crude Oil Update | Advisory Bazaar Info Services

🔺 Prices Rebound: Oil prices rose on Wednesday, recovering from a five-week low.

🔸 Brent Crude: $68.59/barrel (+1.4%)

🔸 WTI Crude: $66.08/barrel (+1.4%)

📌 Reason: Market supported by fears of supply disruption after Donald Trump threatened higher tariffs on India’s Russian oil imports.

⚖️ Offsetting Factors:

• OPEC+ agreed to increase output by 547,000 barrels/day in September.

• Possible resumption of oil exports from Venezuela.

🗨️ According to PVM’s Tamas Varga, Trump’s renewed tariff threat supported prices, but rising OPEC+ supply and Venezuela exports balanced the outlook.