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Oil prices post first gain in 3 sessions

oil prices post first gain in 3 sessions

Oil prices ended higher on Tuesday to log their first gain in three sessions. “Risks to energy supplies remain elevated after reports that Iran was planning an attack on targets that include Saudi Arabia and Northern Iraq,” said Edward Moya, senior market analyst at OANDA. Meanwhile, “global economic outlook remains very fragile to a swathe of risks, and that should keep crude demand forecasts vulnerable to getting slashed, but for now energy traders remain fixated on how tight the market remains.” U.S. benchmark West Texas Intermediate crude for December delivery CLZ22, +2.02% rose $1.84, or 2.1%, to settle at $88.37 a barrel on the New York Mercantile Exchange after losing 1.6% on Monday.

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