Reported 1 day ago
Oil prices stabilized on Friday, heading for their first weekly increase since November, despite supply concerns due to new sanctions on Iran and Russia, coupled with a forecasted surplus for 2025. Brent crude rose slightly to $73.48 a barrel, while U.S. West Texas Intermediate reached $70.11, with both contracts showing gains of over 3% for the week. The International Energy Agency adjusted its 2025 demand growth forecast but predicts a surplus as non-OPEC+ countries increase production, raising questions about potential price movements.
Source: YAHOO