Disrupted Oil Supplies News

Oil prices rose on Tuesday, recovering some of the previous session's losses as Kazakhstan's supplies continued to be disrupted and major producers showed no sign of being in a hurry to boost output significantly.Brent crude LCOc1 rose $1.54, or 1.4%, to $114.02 a barrel by 1110 GMT, and U.S. West Texas Intermediate (WTI) crude CLc1 was up $1.34, or 1.3%, at $107.30. Both benchmarks had lost about 7% on Monday."There was an overreaction on Monday and the market is re-considering it," UBS analyst Giovanni Staunovo said.

period of thirty days, according to a statement by Claude Mandil, IEA Executive Director. approach as the most effective mechanism. emergency response as timely and appropriate. immediately and will continue into October. available on the pace of recovery and adequacy of supplies to the market. will take place end September or early October. nations and the OPEC Secretariat.