Reported about 6 hours ago
Oil prices inched upwards following a significant drop as China announced a briefing on fiscal policies aimed at boosting economic growth. Brent crude approached $78 a barrel and West Texas Intermediate traded above $74. Market concerns continue over geopolitical tensions in the Middle East, especially regarding potential conflicts involving Iran. Analysts suggest that while geopolitical risks could support prices, oversupply issues, particularly from a slowing Chinese economy and OPEC+ plans to increase output, could weigh heavily on future oil prices.
Source: YAHOO