Tighter supply and subdued U.S. inflation lifted oil prices to a 10-week high.
Oil prices in Asian trade climbed near 10-week highs, driven by expectations of tighter supplies due to disruptions in Libya and Nigeria. Additionally, data indicating a decrease in U.S. inflation further bolstered market sentiment.
Brent oil futures increased by 0.3% to $81.54 per barrel, while West Texas Intermediate crude futures rose by 0.3% to $77.12 per barrel as of 21:56 ET (01:56 GMT). Both contracts reached their highest levels since late-April and were poised for a weekly gain of 3.8% to 4.5%, marking their third consecutive week of positive growth.
#KVBPRIMEGlobal# #KVBPRIMEVietnam# #KVBPRIME中文服务# #Indices# #oilprice# #Commodities#
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.