Summary:
- Global oil market had a volatile trading session, closing higher due to geopolitical tensions and economic uncertainties.
- Key factors affecting oil prices included Middle East tensions, Libyan production halt, US dollar strength, and global growth concerns.
- Closing prices: WTI crude rose to US$73.20 per barrel, Brent crude increased to US$76.48 per barrel.
- Market analysis by Goldman Sachs and the US Department of Energy on price projections and macroeconomic fears.
