Reported 2 days ago
Oil prices have surged past previous trading limits, aided by a key technical threshold breakthrough and declining U.S. crude inventories. West Texas Intermediate rose above $73 per barrel after a four-day rally, with Brent nearing $76. The substantial drop in U.S. stockpiles for six consecutive weeks has contributed to this upward momentum, but concerns about 2025's market conditions linger, influenced by potential OPEC+ production increases and fluctuating demand, particularly from China.
Source: YAHOO