Oil prices stabilize in global markets

Economy

24-02-2025, 17:11

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Followed by-INA

Oil prices stabilized during today's session, Monday, the beginning of the week's trading, as investors awaited any clarifications regarding the talks to end the war between Russia and Ukraine.

Brent crude futures rose 0.5 percent to $74.56 a barrel, while US West Texas Intermediate crude also rose 0.014 percent to $70.51 a barrel.
Brent and US West Texas fell by more than $2 a barrel on Friday, with the former recording a weekly decline of 0.4 percent and the latter 0.5 percent.
All eyes remain on the talks aimed at ending the Russia-Ukraine war, which is entering its fourth year.

The sanctions imposed by the United States and the European Union on Russian oil exports have limited its shipments and disrupted the flow of seaborne oil supplies, and global energy supplies are expected to increase in the event of a peace agreement and the lifting of sanctions.