Oil Prices Edge Up on Limited Gains Amid Supply and Demand Concerns

2026-07-07T07:22:21.330Z

Oil prices rose in today's trading, but gains were limited as traders shifted focus to concerns over supply growth and global demand outlook, ignoring the easing of geopolitical tensions in the Middle East.

Oil prices rose in today's trading, but gains were limited as traders shifted focus to concerns over supply growth and global demand outlook, ignoring the easing of geopolitical tensions in the Middle East.

Brent crude futures rose 28 cents, or 0.39%, to $72.29 per barrel by 00:46 GMT.

Similarly, U.S. West Texas Intermediate crude rose 29 cents, or 0.26%, to settle at $68.84 per barrel.

This limited rise reflects a cautious sentiment prevailing in the markets, as traders await indicators of global oil demand, especially in light of rapid economic changes internationally.