Oil continued to rally on supply concerns, weaker US dollar
International benchmarks for crude oil continued to rally on Tuesday, 28 March 2023 as investors focused on the supply disruption from Iraqi Kurdistan
International benchmarks for crude oil continued to rally on Tuesday, 28 March 2023 as investors focused on the supply disruption from Iraqi Kurdistan as oil firms direct outputs to storage while waiting for the pipeline issues to be resolved. Meanwhile, the US dollar depreciated against the basket of currencies, further boosting the commodity.
Brent added 53 cents to close at $78.65/barrel.
WTI gained 39 cents to close at $73.20/barrel.