Oil prices moved higher in short-term trading, with West Texas Intermediate crude rising above $75 a barrel, according to Gate data cited by Odaily. WTI was up 5.01% on the day, while Brent crude gained 5.00% to $79.74 a barrel. The move was also reflected in major oil-linked futures contracts, where SC crude rose 2.21% to 481.5 yuan per barrel. Low-sulfur fuel oil (LU) climbed 1.92% to 4,195 yuan per ton, fuel oil advanced 2.51% to 3,312 yuan per ton, and asphalt added 3.13% to 3,960 yuan per ton. On the news front, Trump announced the restoration of a blockade on Iran. The report was published by Odaily as a market analysis brief.
Oil prices rose in short-term trading, with West Texas Intermediate crude moving above $75 a barrel, according to Gate data cited by Odaily. WTI was up 5.01% on the day.
Brent crude also climbed 5.00% and was quoted at $79.74 a barrel.
Oil-linked futures contracts also moved higher
Major oil-related futures contracts extended gains. SC crude rose 2.21% to 481.5 yuan per barrel. Low-sulfur fuel oil (LU) gained 1.92% to 4,195 yuan per ton. Fuel oil rose 2.51% to 3,312 yuan per ton, while asphalt increased 3.13% to 3,960 yuan per ton.
On the news side, Trump announced the restoration of a blockade on Iran.
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