Reported 16 days ago
Oil prices saw a slight increase ahead of important US inflation figures and an OPEC market report. Brent crude approached $73 per barrel while West Texas Intermediate traded above $69. Upcoming data may influence monetary policy as the Federal Reserve meets next week, with the Biden administration also considering sanctions on Russian oil, potentially tightening the market further. Recent forecasts indicate a balanced oil market for 2025, contrary to previous surplus predictions.
Source: YAHOO