Reported 5 days ago
Oil prices have increased following a weekly decline, driven by a renewed risk-on sentiment in the markets. However, worries persist about China's demand and a potential global supply glut. Brent crude rose above $71 a barrel while West Texas Intermediate approached $67, amidst fluctuating prices influenced by geopolitical tensions and weak consumption in China affecting Angolan crude sales. Market participants are cautious due to the uncertain supply outlook from the US and OPEC+.
Source: YAHOO