Oil Prices Dip as Russian Port Reopens

Oil prices experienced a dip today, with Brent crude futures falling to $82.16 and U.S. West Texas Intermediate crude dropping to $77.65. This decrease was due to the resumption of operations at a key Russian export port, easing supply concerns. Additionally, a surprise increase in U.S. crude oil stockpiles and uncertainty about future interest rate hikes by the U.S. Federal Reserve contributed to the price decline. The oil market is currently volatile, with traders and analysts closely monitoring these factors.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.