Baghdad: Oil prices recorded a significant rise in global markets on Tuesday, driven by improved investor sentiment and reduced concerns about weak demand, exceeding $68 per barrel. The price of Brent crude for June 2025 delivery rose to $68.08 per barrel, a 3.60% increase compared to the previous closing price, within a daily range of $66.54 to $68.04.

According to National Iraqi News Agency, the price of West Texas Intermediate (WTI) crude also rose to $64.29 per barrel, an increase of $1.88, or 3.01%, within a daily range of $62.74 to $63.56, and an annual range of $55.12 to $84.20. This improvement in prices comes after a sharp decline in previous sessions. Estimates indicate that optimism about a global economic recovery has contributed to support for oil markets, amid continued cautious monitoring of supply and demand developments.