Crude Oil Prices Rise Amidst Geopolitical Tensions
Update: 2025-12-05
Description
Crude oil and gasoline prices see a slight uptick due to a weaker US dollar and ongoing geopolitical tensions, particularly the Ukraine conflict. Saudi Arabias Aramco cuts prices for Asian customers, signaling potential weakening demand. Russias oil exports are impacted by attacks and reduced shipments, supporting current prices. OPEC Plus plans to pause production increases, despite a predicted global oil surplus. The market remains watchful as crude oil storage on tankers reaches a near two-and-a-half-year high, and OPEC revises its surplus prediction.
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