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Oil prices rise as tension flares in Europe, Mideast; supply weighs
Business World Philippines
|September 23, 2025
Oil prices gained in Asian trade on Monday supported by geopolitical tension in Europe and the Middle East, although the prospect of more oil supply and concern about the impact of trade tariffs on global fuel demand weighed.
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Brent crude futures rose 34 cents or 0.54% to $67.07 a barrel by 0317 GMT while the US West Texas Intermediate (WTI) crude contract for October was at $63.02 a barrel up 34 cents or 0.54%.
The October WTI contract expires on Monday and the more active November contract gained 36 cents or 0.58% at $62.76 a barrel.
“Reports over the weekend that Russia was threatening over the Polish border has provided traders with a timely reminder of the ongoing risks to European energy security from the north east,” said Michael McCarthy, chief executive officer of investment platform Moomoo Australia and New Zealand.
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