Oil prices were set to post a second straight weekly gain spurred largely by brightening economic prospects for China which should boost fuel demand in the world’s second-biggest economy. | Reuters
Oil prices were also supported by hopes that the U.S. central bank will soon end its tightening cycle.
“The two largest economies in the world are needing more crude. The oil market has been down on global recession fears, but it still is showing signs it can remain tight a little while longer,” said Edward Moya, senior market analyst at OANDA.
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.
China's COVID-19 reopening set to push 2023 oil demand to new high – IEA'Two wild cards dominate the 2023 oil market outlook: Russia and China,' says the International Energy Agency.
Read more »
Pokwang, Lee O’Brian together on daughter Malia’s 5th birthdayPokwang and Lee O&039;Brian&039;s co-parenting setup seems to be going well as the former couple spent time together with their daughter Malia on her 5th birthday. Pokwang and O&039;Brian
Read more »
Wholesale energy dives but bills remain sky highLONDON, United Kingdom -Plunging wholesale gas prices have sparked speculation of an end to Europe&039;s energy crisis -- but consumers&039; electricity and gas bills remain sky high, fuelling
Read more »
Davos 2023: China reopens its doors with investment pitch to global eliteDAVOS, Switzerland - China&039;s Vice-Premier Liu He welcomed foreign investment and declared his country open to the world on Tuesday after three years of pandemic isolation. Liu&039;s
Read more »
Thai Lunar New Year spending seen at 3-yr high as tourism rebounds – surveyThailand’s consumer spending over the Lunar New Year period could rise 13.6 percent to 45 billion baht, a three-year high, as the economy recovers and China’s border reopening bolsters tourism, a university survey showed. | Reuters
Read more »
Stocks and oil slide on rekindled recession worriesStocks and oil prices dipped on Thursday after weak U.S. consumer data rekindled global recession worries, while Japan’s yen reared up again as traders took fresh punts that the Bank of Japan will soon be tightening policy.
Read more »