Tuesday, July 22, 2025
Oil climbs 3% as price drop triggers buying; oversupply worries persist- oil and gas 360

Oil climbs 3% as price drop triggers buying; oversupply worries persist

(Investing) – LONDON -Oil gained more than $1.50 per barrel on Tuesday, rebounding on technical factors and bargain hunting after a decision by OPEC+ to boost output sent prices down in the previous session, although concerns about a market surplus persisted. Brent crude futures were up $1.80, or 3%, to $62.03 a barrel by 1310 GMT, the first gain after six consecutive