Oil rises on U.S. debt deal, but rate hikes, OPEC+ talks curb enthusiasm
Tue, May 30, 2023 8:34 AM

Oil rises on U.S. debt deal, but rate hikes, OPEC+ talks curb enthusiasm

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Oil prices rose on Tuesday as the expectations the debt ceiling deal in the U.S. will spur more demand but fears of further interest rate rises and that OPEC+ will leave output quotas unchanged capped gains. Brent crude futures climbed 35 cents, or 0.5%, to $77.42 a barrel by 0145 GMT after gaining 12 cents on Monday. WTI crude rose 53 cents to $73.20 a barrel, up 0.7% from Friday's close.

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