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U.S. Crude Oil Prices Rise Nearly 1%, Surpassing $71 per Barrel

Tina Collins

Tina Collins

U.S. Crude Oil Prices Rise Nearly 1%, Surpassing $71 per Barrel
U.S. Crude Oil Prices Rise Nearly 1%, Surpassing $71 per Barrel

U.S. crude oil futures gained nearly 1% on Tuesday, continuing the upward trend after a nearly 2% rise in the previous session.

Oil prices are rebounding after a steep sell-off last week.

Traders are increasingly optimistic about avoiding supply disruptions in the Middle East amid Israel-Iran tensions.

Weak demand in China has been a recent concern, but Beijing's decision to cut benchmark lending rates on Monday has provided some support to the market.

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