Mubasher: Oil future rose at Tuesday’s settlement, amid concerns over global supplies.
August Nymex WTI grew by $0.55, or 1%, to close at $56.77 per barrel.
The International Energy Agency (IEA) stated that it would act quickly if needed to keep the global oil market sufficiently supplied, while closely monitoring developments in the Strait of Hormuz.
Source:
Mubasher
