Reported 7 months ago
Oil prices saw a slight increase as US data depicted a mixed economic scenario with higher crude and fuel supplies but an easing labor market and slowing inflation, offsetting the impact of the Federal Reserve's delay in implementing rate cuts. The Organization of Petroleum Exporting Countries' optimistic demand forecast for 2045 and beyond also influenced oil prices. Furthermore, concerns persist over rising US crude stockpiles and ongoing supply disruption fears in the Middle East amidst ceasefire talks in Gaza.
Source: YAHOO