Oil prices rise on supply deficit concerns

Oil pricesrose in early trade on Tuesday for the fourth consecutive session, as weak shale output in the U.S. spurred further concerns about a supply deficit stemming from extended production cuts by Saudi Arabia and Russia. U.S. West Texas Intermediate crude futures rose 90 cents, or 1 percent, to $92.38, by 0018 GMT, just under a 10-month high reached on Monday, while globaloilbenchmark Brent crude futures rose 27 cents, or 0.3 percent, to $94.70 a barrel. Priceshave gained for three consecutive weeks. U.S.oiloutput from top shale-producing regions is on track to fall to 9.393 million barrels per day (bpd) in October, the lowest level since May 2023, the U.S. Energy Informatio...Keep on reading: Oil prices rise on supply deficit concerns

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