Brent crude gained 38 cents, or 0.4%, to $86.54 a barrel by 0912 GMT. U.S. crude advanced 74 cents, or 0.9%, to $81.07.
"Many traders believe it is highly likely that we are going to see higher demand coming from China as it continues to dismantle its COVID policies," said Naeem Aslam, analyst at broker Avatrade.Oil was also supported by hopes that the U.S. central bank will soon downshift to smaller rises in interest rates and by hopes for the U.S. economic outlook.predicted that the U.S.
The chances of a "soft landing" for the U.S. economy appear to be growing, Federal Reserve Vice Chair Lael BrainardThe two largest economies in the world need more crude, said Edward Moya, senior market analyst at OANDA. "The oil market has been down on global recession fears, but it is still showing signs it can remain tight a little while longer," he said.this week showing crude stockpiles rose by 8.4 million barrels in the week to Jan. 13 to about 448 million barrels, the highest since June 2021.
Reporting by Alex Lawler Additional reporting by Sudarshan Varadhan and Arathy Somasekhar Editing by David Goodman
Source: Financial Digest (financialdigest.net)
ارتفعت أسعار_النفط يوم الجمعة وويتجه لتحقيق مكاسب أسبوعية ثانية على التوالي ، مدفوعة إلى حد كبير بآفاق اقتصادية مشرقة للصين والتوقعات الناتجة عن تعزيز الطلب في ثاني أكبر اقتصاد في العالم.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WTI Crude Oil Forecast: Crude Oil Reverses at MiddayThe West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Wednesday, but turned around to show signs of exhaustion.
Source: Daily_Forex - 🏆 567. / 51 Read more »
Oil prices set for second week of gains on brighter China outlookOil prices were set to post a second straight week of gains on Friday, spurred largely by brightening economic prospects for China which should boost its fuel demand. China and Russia have BOTH PROFITED from so-called western sanctions.. Prosecute the Biden Admin!!!
Source: Reuters - 🏆 2. / 97 Read more »
Oil prices gain around 1% on optimism over China's recoveryOil prices rose on Wednesday to their highest since early December on optimism that the lifting of China's strict COVID-19 curbs will lead to a fuel demand recovery in the world's top oil importer. ارتفعت أسعار النفط يوم الأربعاء إلى أعلى مستوياتها منذ أوائل ديسمبر وسط تفاؤل بأن رفع القيود الصارمة التي تفرضها الصين على فيروس_كورونا سيؤدي إلى تعافي الطلب على الوقود في أكبر مستورد للنفط في العالم.
Source: Reuters - 🏆 2. / 97 Read more »
Oil rises to 6-week high amid continued optimism over China reopeningOil futures rise to their highest levels since early December as traders remain upbeat about China's reopening and the demand for crude.
Source: MarketWatch - 🏆 3. / 97 Read more »
Global oil demand could hit record high as China reopens | CNN BusinessGlobal oil demand is expected to hit its highest-ever level this year on the back of China's swift reopening of its economy. We had a chance, right at the beginning of the pandemic, to finally get off fossil fuels on a global scale. We blew it. Might b time to do some drillin. Just sayin. Russia is going to make millons selling oil to China
Source: cnni - 🏆 326. / 59 Read more »
WTI pares intraday gains near $81.00 as higher EIA Crude Oil Stocks Change join recession woesWTI pares intraday gains near $81.00 as higher EIA Crude Oil Stocks Change join recession woes – by anilpanchal7 Oil WTI Recession CentralBanks Commodities
Source: FXStreetNews - 🏆 14. / 72 Read more »