On February 19, 2025, WTI crude oil prices closed at $72.05 per barrel, reflecting a rise driven by geopolitical tensions and adverse weather conditions. Notably, drone attacks on Russian oil infrastructure have disrupted its production, causing uncertainty in international markets. Additionally, extreme weather in the U.S. is projected to decrease North Dakota's oil production by 150,000 barrels per day. OPEC's decision to potentially delay a production increase further supports the price stability amid fluctuating demand driven by economic recovery and heightened industrial activity across global markets.
The recent rise in WTI crude oil prices to around $72.80 per barrel signals growing market concerns over supply due to geopolitical tensions and extreme weather.
Factors such as drone attacks on Russian oil infrastructure and adverse weather conditions in the US have contributed to rising oil prices, impacting global supply.
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