COMMODITY
Crude oil futures end higher on supply concerns
Jan-29-2025

Crude oil futures ended higher on Tuesday amid disruptions to supply from Libya as protectors prevented tankers from loading at the country's two major ports. Further, the outlook for new sanctions on Iranian and Russian crude exports could limit global oil supplies and is bullish for prices. Meanwhile, traders await weekly oil reports from U.S. Energy Information Administration (EIA) due on Wednesday. However, a stronger dollar weighed as well on oil prices.

Benchmark crude oil futures for March rose $0.60 or 0.82 percent to settle at $73.77 a barrel on the New York Mercantile Exchange. Brent crude for March delivery gained $0.41or 0.53 percent to settle at $77.49 a barrel on London's Intercontinental Exchange.


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