Summary
- Oil prices extended intraday gains, with WTI crude trading at $85.40 a barrel.
- Brent crude also rose 2.16% to $89.40 a barrel.
- Markets are watching the impact of higher oil prices on the inflation outlook, the path of interest rates and sentiment toward risk assets.
Oil prices extended their intraday advance.
WTI crude was trading up 3% at $85.40 a barrel on July 21, according to crypto-focused media outlet BlockBeats.
Brent crude also gained 2.16% to $89.40 a barrel.
The rise in oil prices was attributed to renewed concerns over supply disruptions as tensions in the Middle East persisted. Markets are watching how the rebound in crude could affect the inflation outlook, the path of interest rates and sentiment toward risk assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.