Reported 1 day ago
Crude oil prices are experiencing an upward trend, supported by a decline in Russian crude exports due to intensified Ukrainian drone attacks on Russian refineries. The rally in the S&P 500 and a weaker dollar have further bolstered energy prices, despite signs of weak global economic performance that may dampen energy demand. Concerns over geopolitical tensions and potential sanctions on Russian energy also contribute to the bullish outlook for crude, while OPEC+ plans to increase production could pose a challenge to sustained price growth.
Source: YAHOO