Reported 2 days ago
Oil prices have seen an increase, with Brent nearing $65 a barrel as U.S.-China trade tensions ease, reducing fears of tariffs. While comments regarding an Iran nuclear deal added a bearish sentiment, the market’s recovery persisted, buoyed by favorable trade conditions. OPEC has maintained its 2025 oil demand forecast but adjusted non-OPEC supply growth expectations due to lower prices impacting U.S. shale production. Other global developments include Saudi Aramco's investment deals with U.S. firms and the EU considering new tariffs on Ukraine.
Source: YAHOO