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Oil Prices Inch Higher on Supply Tightness ...Middle East
Crude oil prices moved slightly higher earlier today on signs that global supply is tightening although worry about demand continued to weigh on benchmarks. At the time of writing, Brent crude was trading at $71.97 per barrel, with West Texas Intermediate at $68.18 per barrel, after OPEC on Tuesday revised down its demand growth outlook for the year yet again. In its latest Monthly Oil Market Report, the oil-producing cartel said it now expected global oil demand to grow by 1.82 million barrels daily this year, which was down from a previous demand…
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