Latest Oil Market Trends: July 29

Oil prices continue to rise due to increasing global demand and ongoing supply shocks. Brent oil prices have increased by 2.5% in the last 24 hours, reaching $105.

■Rising oil demand, - Ongoing supply shocks, - Global economic uncertainty are among the factors driving oil prices higher.

The Future of the Oil Market - Increasing global demand: Oil demand continues to rise due to ongoing global economic growth.

■Ongoing supply shocks: Supply shocks persist, particularly in the Middle East and Africa regions.

■Energy transition: The energy transition process is expected to replace oil with cleaner energy sources. As Captain Riza Deniz, I closely monitor oil market developments and analyze their impact on the global economy. The future of oil prices remains uncertain due to increasing global demand and ongoing supply shocks.