Oil steadied after its biggest gain in almost two weeks, as a US trade deal with Vietnam boosted optimism further agreements will be made by next week's cutoff.
West Texas Intermediate traded above $67 a barrel after surging more than 3% on Wednesday, with Brent crude closing near $69. The deal with Vietnam would be just the third announced following agreements with the UK and China, as trading partners race to cut agreements with the US ahead of a July 9 deadline.
Crude has been buffeted in recent weeks, surging and collapsing along with perceived geopolitical risk in the Middle East, although trading has calmed in recent days. Focus is returning to trade talks, and the associated tariffs that threaten oil demand, as well as to Sunday's OPEC+ meeting, at which the producer group is widely expected to agree on another bumper increase in supply.
Prices:
WTI for August delivery fell 0.3% to $67.27 a barrel at 7:28 a.m. in Singapore.
Brent for September settlement closed 3% higher at $69.11 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....
European stocks closed mostly lower on Friday (July 25th) as markets continued to monitor the latest corporate earnings reports while awaiting 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...
Asia-Pacific markets traded lower as investors weigh recent trade developments.
Asia markets started the trading day lower.
Japan's benchmark...
U.S. business activity expanded at a faster pace in July as services-sector firms shrugged off concerns over government policies, though...