Reported about 13 hours ago
Oil prices are on track for their longest weekly gain since July, driven by decreasing U.S. inventories and cold weather increasing demand for heating fuels, even as worries persist about demand weakness in China. Brent crude has risen above $77 a barrel, while West Texas Intermediate hovers around $74, benefiting from a tightening market. Market analysts suggest that current oil levels are fair, facing hesitance to approach $80 amid global supply dynamics and potential trade tensions following the upcoming U.S. presidential inauguration.
Source: YAHOO