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Reading: Crude oil drives higher with focus on geopolitical risks, OPEC+ plan to rein in production

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Crude oil drives higher with focus on geopolitical risks, OPEC+ plan to rein in production

Last updated: March 22, 2025 6:02 am

By MT HANNACH

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Analysis of data on the basic product energy market: graphics and exposed quotes. US WTI crude oil price analysis. Superb drop in prices in the past 20 years. — Slavkosereda / Istock via Getty Images

Tower contracts on crude oil have displayed their second consecutive weekly gain, stimulated by bullish geopolitical developments, including American strikes on Houthi rebel targets and Israeli strikes in Gaza, while the United States has tightened the application against Iranian crude by sanctioning Chinese refinery.