ISLAMABAD: Crude oil prices jumped over one percent on Tuesday amid supply concerns as well as weaker US dollar. On the other hand, the US West Texas Intermediate (WTI) price reached $79.13 a barrel, up by $0.90 (+1.15 percent). According to experts, a weaker US dollar helped support oil prices, as it makes oil cheaper for those holding other currencies. During the last year, the oil prices rose around 50% last year, making 2021 one of the strongest years in the oil market in recent history. However, it is expected that the upward stick will continue which could create enough room for the oil market to witness triple-deficit.

Source: Libya Today January 11, 2022 14:42 UTC