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High oil prices


London, SANA- Oil prices rose today due to supply concerns, after an earthquake closed a major export terminal in Turkey


Oil prices rose today on supply concerns, after an earthquake unexpectedly shut down a major export terminal in Turkey and a field in the North Sea amid increasing expectations of a recovery in demand in China, the world's largest importer of crude.

According to Reuters, Brent crude futures rose 40 cents, or 0.5 percent, to $81.39 a barrel, while US crude futures rose 43 cents, or 0.6 percent, to $74.54 a barrel.

Experts pointed out that the closure of the Turkish port of Ceyhan and the closure of the first phase of the Johan Sverdrup field, which produces 535,000 barrels per day in the North Sea region of Norway, are among the main factors for raising prices now.

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Source: sena

All business articles on 2023-02-07

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