Oil rose on Tuesday, holding above $70 a barrel for a third day, supported by concerns that tensions in the Middle East could lead to supply disruptions, although with global output rising fast, investors remained cautious.
Brent crude futures were up 28 cents on the day at$70.40 a barrel by 0848 GMT, while West Texas Intermediate (WTI) crude futures were up 19 cents at $65.74 a barrel.
The oil price has risen by more than 7 percent so far this month and by 5.3 percent in the first three months of the year, putting it on track for a third consecutive quarterly gain, something the market has not witnessed since late 2010. Read More…
Latest posts by The Economic Times (see all)
- Generating companies may get to invite bids from discoms to sell power - March 23, 2019
- CIL dividends, buybacks to draw Rs 19,000 crore for government - March 20, 2019
- Eyeing Southeast Asia, India builds port in Indonesia - March 20, 2019