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Asharq Al-Awsat

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Asharq Al-Awsat

Oil Rises on China Outlook, Supply Worries after Türkiye Quake

Oil China Türkiye Edward Moya OANDA Jerome Powell US Federal Reserve

An oil pump is seen at sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann/File Photo

Oil prices rose for a second straight session on Tuesday, driven by optimism about recovering demand in China, and concerns over supply shortages following the shutdown of a major export terminal after an earthquake in Türkiye.

Brent crude futures rose 82 cents, or 1.01%, to $81.81 per barrel by 0300 GMT, while West Texas Intermediate futures rose 82 cents, or 1.11%, to $74.93 per barrel.

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