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Precious metals: oil on the verge of gaining 3%

09/08/2024
Source : ORISHAS-FINANCE
Categories: Raw materials

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Due to rising tensions in the Middle East and improving American prospects, oil is on track to gain 3% this week.

Ce vendredi, les prix du pétrole ont Lower slightly in early Asian trade, but were on track to gain more than 3% for the week, as U.S. employment data calmed concerns. studies concerning demand and fears of an escalation of the conflict in the Middle East that have persisted. West Texas Intermediate crude oil futures were down one cent to $76.09 per barrel. Brent oil futures fell by 9 cents, or 0.11%, to $79.07 per barrel at 0030 GMT. However, Brent and WTI were poised to gain over 3% on a weekly basis. According to Daniel Hynes, an analyst at ANZ, “Crude oil has continued to recover from its recent plunge, while high geopolitical risks have become evident.” Prices were supported after data showed that the number of Americans filing for new unemployment benefits fell more than expected last week

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