Oil slipped in quiet end-of-year trading, as the market focused on the outlook for 2025 while monitoring Middle East developments.
West Texas Intermediate traded near $70 a barrel after rising 1.6% last week, and Brent was below $74. There are widespread expectations that the market will be oversupplied next year, which is likely to make it harder for OPEC and its allies to revive idled production.
Oil is heading for a modest loss this year, with trading confined to a narrow range since mid-October. The market has been buffeted by bearish and bullish signals, including persistent hostilities in the Middle East. Traders will be also watching for any fallout from a Trump administration.
WTI for February delivery was 0.3% lower at $70.41 a barrel at 7:34 a.m. in Singapore.
Brent for February settlement, which expires Tuesday, dipped 0.5% to $73.80 a barrel.
Source : Bloomberg
Oil prices weakened on Friday (July 25th) and closed at a three-week low as traders worried about negative economic news from the US and China and signs of increasing supply. The losses were limited ...
Oil prices weakened on Friday due to negative economic news from the United States and China and signs of rising supply, despite optimism that a U.S. trade deal could boost global economic growth and ...
Oil was steady on optimism over US trade talks ahead of a key deadline next week, and as tightness in diesel markets boosts sentiment. Brent crude was above $69 a barrel after adding 1% on Thurs...
Oil prices were stable on Friday, as trade talk optimism supported the outlook for both the global economy and oil demand, balancing news of the potential for more oil supply from Venezuela. Brent cr...
Oil prices rose on Friday as trade talk optimism supported the outlook for both the global economy and oil demand, outweighing news of the potential for more oil supply from Venezuela. Brent crude fu...
The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq 100 gained 0.2% after hitting an intraday high. The Dow Jones Industrial Average gained 208 points as...
Oil prices weakened on Friday (July 25th) and closed at a three-week low as traders worried about negative economic news from the US and China and signs of increasing supply. The losses were limited by optimism that a US trade deal could boost...
Gold prices weakened on Friday, weighed down by a stronger U.S. dollar and signs of progress in U.S.-EU trade negotiations, which have dampened demand for safe-haven assets. Spot gold fell 0.9% to $3,336.01 an ounce at 2:01 PM ET (18:01 GMT). U.S....
Equities in Indonesia rose 64 points, or 0.9%, to 7,555 around noon on Thursday, gaining for a second straight session and supported primarily by...
The European Central Bank (ECB) is on track to leave its key interest rates unchanged after its July policy meeting, after having reduced rates at...
Asia-Pacific markets opened higher as the latest trade developments between the U.S. and Japan, as well as positive signs for a deal with the...
Initial jobless claims in the US fell by 4,000 from the previous week to 217,000 in the third week of July, well under market expectations that they...