Doha: Oil prices rose Wednesday as concerns over supply persisted due to a winter storm that disrupted crude oil production and exports in the United States. Brent crude futures gained 28 cents, or 0.4 percent, to USD 67.85 a barrel, while US West Texas Intermediate (WTI) crude rose 35 cents, or 0.6 percent, to USD 62.74 a barrel.
According to Qatar News Agency, both benchmarks rose by about 3 percent on Tuesday. The increase in prices reflects ongoing worries about how the storm could impact the availability of crude oil in the market. The disruptions have raised questions about the ability to maintain stable supply levels, adding pressure on prices as demand continues to recover.