Reported 2 days ago
Oil prices stabilized following a notable gain of 3.2% as the dollar weakened, which favored commodity prices. Brent crude traded above $73 per barrel, while West Texas Intermediate hovered near $69. Despite the recent uptick, concerns about ongoing Chinese demand and ample global supply continue to cast a shadow on the market outlook, prompting analysts to maintain a bearish stance on oil prices in the medium to long term.
Source: YAHOO