Oil prices saw another rise on Tuesday morning on optimistic forecasts published by the International Monetary Fund (IMF). On Tuesday, the IMF raised its 2023 global growth estimates based on promising economic activity in Q1. For 2023, the IMF is now estimating a 3% GDP growth—up 0.2 percentage points from its forecast published in April.
Its 2024 remains unchanged at 3.0%. Oil prices rose on the news, with WTI surpassing the $79 mark. WTI was trading at $79.05 as of 10:52 am ET, up $0.31 (0.39%) on the day. Brent crude rose above $83, up…UK Energy Regulator Hits SSE Generation With Hefty Fine
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