Oil prices rose on Friday, on track to end higher this week following two straight weeks of losses, after a top U.S. official expressed optimism over economic growth and U.S. inflation rose moderately in March in line with expectations.
Oil prices ticked higher on Thursday on fears of a wider conflict in the Middle East, after Israel said it plans an assault on Hamas hold-outs in Rafah, with gold also gaining against a softer U.S. dollar (DXY).
Oil prices settled higher on Thursday on worries of supply disruptions in Middle East supply as Israel stepped up airstrikes on Gaza's Rafah and on the U.S. Treasury secretary's comments that the economy was performing well.
Crude oil prices rebounded, reaching their highest levels in over a week, as short-sellers tried to close out positions and Janet Yellen's optimistic views of the U.S. economy.
GMT, Light Crude Oil Futures are trading $83.72, up $0.15 or +0.18%. Treasury Secretary Janet Yellen’s statements to Reuters on Thursday provided a significant boost. Yellen hinted at a possible upward revision of U.
Oil prices were steady on Thursday as concern about fuel demand after slower-than-expected U.S. economic growth was offset by worries of supply disruptions as Israel stepped up airstrikes on Gaza's Rafah.
Crude oil prices posted weekly gains after registering back-to-back losses, as easing perceptions of geopolitical risk took some momentum out of the market while an unexpectedly large draw of U.S. crude inventories was supportive.
Oil steadied on Thursday after settling lower the previous day as signs of retreating fuel demand in the U.S., the world's biggest oil user, contended with widening conflict risks in the Middle East.
Oil prices steadied on Thursday after settling lower in the previous day, as signs of retreating fuel demand in the U.S., the world's biggest oil user, contended with widening conflict risks in the key Middle East producing region.
Oil prices steadied on Thursday after settling lower in the previous day, as signs of retreating fuel demand in the U.S., the world's biggest oil user, contended with widening conflict risks in the key Middle East producing region.