Reported 4 months ago
Oil prices climbed from a four-month low as traders aimed to establish a price floor following a period of decline. West Texas Intermediate settled near $74 per barrel after five consecutive sessions of losses, with concerns over demand and OPEC+ decisions driving volatility. Despite the US Energy Information Administration reporting a 1.23 million barrel increase in US crude stockpiles, market analyst Fawad Razaqzada highlighted potential support for prices, though OPEC+ unwinding supply cuts and concerns over output from non-member nations continue to impact the market.
Source: YAHOO