Crude oil prices have inched higher on Monday as oil tanker traffic across the Strait of Hormuz increased gradually while the Organization of Petroleum Exporting Countries agreed to increase output. Tension due to differences between the U.S. and Iran despite a ceasefire limited the losses.
WTI Crude Oil for August month delivery was last seen trading down by $0.15 (or 0.22%) at $68.54 per barrel.
Yesterday, after a virtual meeting to review the global energy market conditions, seven countries of the Organization of Petroleum Exporting Countries announced plans to boost oil production.
Subscribe to continue reading the article.
This article is available exclusively to RTT Biotech Investor and Intelligent Investor subscribers. Subscribe with a RTTNews subscription.
Start Free Trial
FREE 7-Day Trial – No Payment Required
Market Analysis
Crude Oil Slides Amid Increasing Crude Oil Flow, OPEC+ Output Hike Plans
2026-07-06 18:31:06
