Oil rallied after revisions to US data confirmed that inflation is ebbing, boosting confidence that the Federal Reserve will cut interest rates later this year.
West Texas Intermediate rallied above $77 a barrel. Prices have been buoyed by the …
LONDON -Oil eased on Friday but was heading for a second weekly gain as positive U.S. economic growth and signs of Chinese stimulus boosted demand sentiment, while Middle East supply concerns added further support.
The United States, the
LONDON (Reuters) – Oil prices rose slightly on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting …
Despite a sharp drop on Thursday, oil prices are set for another weekly gain as well as a monthly one driven by tight supply coupled with perhaps surprisingly resilient demand.
Bloomberg attributed the Thursday drop to technical resistance …
Oil prices rose slightly on Friday and were on track for their second straight weekly gain, as resilient demand resulted in a larger-than-expected fall in U.S. oil stocks, offsetting fears of higher U.S. interest rates.
Brent crude
LONDON – Oil prices steadied on Friday and were set for a weekly gain against the backdrop of optimism over a global economic recovery, though the COVID-19 crisis in India capped prices.
Brent crude futures were up 1 cent
LONDON – Oil prices hit 11-month highs and were on track for a weekly gain on Friday, supported by Saudi Arabia’s pledge to cut output and a global stocks rally as investors looked beyond rising coronavirus cases.
Brent crude …
Oil jumped more on Thursday and was on track for its second best week in history as a number of bullish factors supported prices, including U.S. companies cutting production, Saudi Arabia raising its official oil selling price and gasoline …
