Oil poised for weekly gain as U.S. economic growth, China stimulus raise demand hopes
Publishing timestamp: 2024-01-26 11:59:36
Summary
Oil prices are on track for a weekly gain due to optimism about increased crude demand from U.S. economic growth and stimulus in China. Rising oil prices may lead to slightly higher gas prices for consumers. Crude supply in the U.S. has fallen due to winter storms, and OPEC+ is maintaining oil output cuts. There are indications of a truce in Gaza, which could ease geopolitical risks in the Middle East. However, ongoing threats to fuel supplies and demands for a permanent ceasefire pose challenges.
Sentiment: MIXED
Keywords: business news, wti crude (mar'23), brent crude oil (dec'20), breaking news: markets, oil and gas, markets, energy,
Source: https://www.cnbc.com/2024/01/26/crude-oil-prices-today.html