Houston/IBNS: The prices of crude oil rose over 1 percent in muted trade owing to public holidays in Britain and the United States after a downbeat week characterised by the outlook for US interest rates in the face of sticky inflation, reports said.
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Crude Oil Prices returned some modest early gains in Europe on Tuesday with the market still hovering between various geopolitical worries and concerns about real, end-user demand for energy.
Oil prices hit their highest level of 2023 in September but have declined very sharply since, with shaky economic data keeping markets fretting about the demand outlook.