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Commodities

Oil prices rise on tighter supply outlook

Updated : July 30, 2018 11:27 PM IST

The market held gains even after a Reuters survey showed OPEC increased production in July.
Prices remain buoyed by a tight supply outlook, with global inventories down from record highs in 2017 and US inventories at a three-year low.
Saudi Arabia last week said it was suspending oil shipments through the Red Sea's Bab al-Mandeb strait, one of the world's most important tanker routes, after Yemen's Iran-aligned Houthis attacked two ships in the waterway.
Oil prices rise on tighter supply outlook
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