Reported 14 days ago
Oil prices climbed following China's announcement of a comprehensive stimulus package aimed at bolstering its economy amid rising tensions in the Middle East due to Israeli strikes on Hezbollah targets in Lebanon. The People's Bank of China introduced measures including increased lending and a cut to interest rates, seeking to achieve an annual growth target of around 5%. Despite concerns over the struggling economy and potential supplies boost from OPEC+, analysts suggest that the stimulus might stimulate energy demand.
Source: YAHOO