New york: The price of oil in world energy markets has neared $73, APA-Economics reports. A barrel of WTI crude oil for September futures on the New York NYMEX exchange saw a modest increase of $0.03, or 0.04%, reaching $69.24.
According to Azeri-Press News Agency, on the London ICE exchange, September futures for Brent oil rose by $0.12, or 0.17%, to $72.63. This slight increase in prices is linked to cautious optimism in the markets as investors await the upcoming Federal Reserve interest rate decision. Additionally, there is no expectation of a significant change in global oil supply, contributing to the current price stability. Analysts have observed that oil prices have been trading within a narrow range in recent days.