Oil Prices Rebound As Crude Supply Tightens ...Middle East

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Oil Prices Rebound As Crude Supply Tightens
source : OILPRICE ( Middle East ) () 13
Oil prices started the month of July rising by 2% early on Friday, rebounding from Thursday’s losses after Libya declared force majeure on more crude export terminals, adding further concerns over tight global supply. As of 10:07 a.m. ET on Friday, WTI Crude was up 1.76% at $107.53 and Brent Crude was gaining 1.87% to $110.83. Oil rebounded at the start of July after losing 9% in the month of June—the first loss in eight months. The aggressive interest rate hikes from the Fed and other central banks last month had the global markets…

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