Oil prices surge to four-week highs as supply fears intensify

Crude oil benchmarks climbed sharply on Tuesday, pushing both Brent and West Texas Intermediate (WTI) to their highest levels in four weeks.

The rally marks a continuation of the recovery that began earlier in the week, as investors remain wary of potential supply disruptions amid escalating geopolitical tensions.

7% to $73.20. The synchronized move across benchmarks signals a decisive shift in market sentiment after prices had shed nearly 10% of their value in recent weeks.

WTI futures rose by more than 2%, building on Monday’s gains where the contract jumped 2.4% to $70.85 per barrel.

Brent crude also advanced, rising 1.7% to $73.20.

The synchronized move across benchmarks signals a decisive shift in market sentiment after prices had shed nearly 10% of their value in recent weeks.

The upward pressure is largely attributed to growing concerns over supply stability.