Crude oil prices rose on Tuesday, after refinery problems in the United States rekindled supply worries during the summer driving season.
US crude oil futures rose 24 cents to US$72.30 per barrel by 16:30 GMT, ending a slide of more than US$6/b. London Brent rose 63 cents to US$71.80/b.
Shutdowns at oil refineries in the United States have kept supplies tight since spring, contributing to a record run in gasoline pump prices earlier this year to well-over US$3 per gallon.
Oil prices fell below US$72/b earlier on Tuesday, extending a plunge of almost 5 percent the previous session. Oil prices are roughly 8 percent below the record US$78.77/b reached last Wednesday.
US crude oil futures rose 24 cents to US$72.30 per barrel by 16:30 GMT, ending a slide of more than US$6/b. London Brent rose 63 cents to US$71.80/b.
Shutdowns at oil refineries in the United States have kept supplies tight since spring, contributing to a record run in gasoline pump prices earlier this year to well-over US$3 per gallon.
Oil prices fell below US$72/b earlier on Tuesday, extending a plunge of almost 5 percent the previous session. Oil prices are roughly 8 percent below the record US$78.77/b reached last Wednesday.
Via: NefteGaz
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