Oil prices rise amid demand developments

19/10/2021 Argaam

Oil drlling rigs

Oil prices rose on Tuesday as investors studied latest developments related to global demand, after Chinese data showed a slowdown in economic growth in Q3 2021.

 

Additionally, US factory output dropped to the lowest level in seven months in September, according to latest reports.

 

Meanwhile, White House spokeswoman Jen Psaki said the US continues to press OPEC members on the oil supply issue.

 

In terms of trading, the international benchmark Brent crude rose 0.4% to $84.69 per barrel, at 9.00 am Makkah time.

 

WTI crude gained 0.6% to $82.89 per barrel.

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