Oil Rises on Red Sea Attacks, Lower US Production as Trump Tariffs Looms

Oil prices rose on Wednesday, maintaining their highest levels since June 23, lifted by attacks on shipping in the Red Sea and a forecast for lower U.S. oil production while uncertainty over U.S. tariffs loomed in the background.

Brent crude futures gained 10 cents, or 0.1%, to $70.25 a barrel by 1057 GMT. U.S. West Texas Intermediate crude was up 15 cents, or 0.2%, to $68.48 a barrel.

After months of calm in the Red Sea, attacks in the major global shipping...

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