Commodity: Oil prices are rising : Orishas-finance

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Commodity: Oil prices are rising

18/07/2025

Source : ORISHAS FINANCE

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While diesel futures hit a 17-month high, crude oil futures rose.

Brent crude futures rose 73 cents, or 1.05%, to $70.25 per barrel at 11:51am GMT. West Texas Intermediate U.S. crude futures gained 83 cents, or 1.23%, to $68.37

The premium on low-sulfur diesel futures over Brent crude increased from $3.50 to $27.27, with an increase of nearly 15% bringing the spread to its highest level since February 2024.

For Giovanni Staunovo, an analyst at UBS, as well as low stocks in northwestern Europe, the rise in diesel futures prices could be due to the EU's ban on imports of fuel derived from Russian crude.

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