Gold and Commodities

Oil Jumps After Biden Fails to Win Saudi Pledge to Pump More Crude

Oil Jumps After Biden Fails to Win Saudi Pledge to Pump More Crude
President Joe Biden (R) and UAE President Sheikh Mohamed bin Zayed al-Nahyan (L) attend a bilateral meeting at a hotel in Jeddah, Saudi Arabia, on July 16, 2022. Mandel Ngan/AFP/Getty Images
Tom Ozimek
Tom Ozimek
Reporter
|Updated:
0:00

Oil prices rose on July 18 as the U.S. dollar softened and after President Joe Biden wrapped up his trip to Saudi Arabia, failing to secure a pledge from the Middle Eastern country to boost crude output.

Brent crude futures for September settlement rose $4.53, or about 4.5 percent, to $105.70 a barrel as of 4 p.m. EDT on July 18, after a 2.1 percent gain on July 15.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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