COMMODITY
Crude oil futures end sharply higher on Friday
Jul-12-2025

Crude oil futures ended sharply higher on Friday as the International Energy Agency (IEA) said the global oil market may be tighter than it appears, with demand supported by peak summer refinery runs to meet travel and power-generation. Meanwhile, a private report said that OPEC+ is discussing a suspension in its oil production growth from October stoked fears of diminishing global demand.

Benchmark crude oil futures for August rose $1.88 or about 2.82% at $68.45 a barrel on the New York Mercantile Exchange. Brent crude for September surged $1.72 or about 2.51% at $70.36 a barrel on London's Intercontinental Exchange.


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