-- Oil headed for the first back-to-back weekly gain since early April as a surprise draw in US inventory levels coupled with signs of robust product demand signaled buoyant conditions in the world’s top consumer.United Airlines Jet Turns Back After Engine Piece Falls Off
Still, given that crude has risen so quickly in recent sessions, futures are now in overbought territory based on the nine-day relative strength index. That reading indicates a pullback may be imminent.More Disabled Americans Are Employed, Thanks to Remote Work China is pressing India to restart direct passenger flights after a four-year halt, but New Delhi is resisting as a border dispute continues to weigh on ties between the world's two most populous countries, officials said. India-China relations have been tense since the biggest military confrontation in decades on their disputed Himalayan border killed 20 Indian and at least four Chinese soldiers in June 2020.
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Oil to Notch Weekly Gain as US Stockpile Draw Encourages BullsOil headed for a back-to-back weekly gain as a surprise draw in US inventory levels and signs of robust demand signaled buoyant conditions in the world’s top oil consumer.
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Oil price news: Oil pares weekly loss as OPEC+ repeats that hike is conditionalOil futures pared a weekly loss after some members of OPEC+ reiterated that its plan to revive halted supplies is contingent on market conditions.
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Oil price news: Oil steadies after weekly loss as traders eye Fed rate decisionOil steadied after last week’s drop as traders look ahead to several industry reports and a U.S. Federal Reserve decision on interest rates.
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Oil price news: Oil pares weekly gain on sliding equities and demand concernsOil declined, paring a weekly gain, as falling equity markets in Europe and Asia added to growing concerns over global demand for the commodity.
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Oil price news: Oil builds on weekly gain as traders weigh mixed China dataOil edged higher after its biggest weekly advance since early April, extending a short-covering rally as traders weighed a raft of data from China.
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Oil Set for Weekly Loss After OPEC+ Supply Plan Rattles MarketAn unexpected plan by OPEC+ to return some supply this year has put oil on track for a weekly decline, prompting some members of the alliance to reassure the market the group is committed to stability.
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