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Oil: a weekly increase of 2% recorded

05/12/2025
Source : ORISHAS FINANCE
Categories: Raw materials

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This morning, WTI oil prices were trending towards weekly gains close to 2%. They are supported by the expectation of a cut in interest rates by the Federal Reserve American, the rise in tensions between the United States and Venezuela, as well than the stalemate in the peace talks in Moscow.

At the opening of the market on Friday, the prices traded little, with Brent gaining 6 cents, or 0.09%, to $63.32 per barrel At 01:04 GMT. The American West Texas Intermediate (WTI) increased by 4 cents, or 0.07%, to 59.71 dollars per barrel.

Both contracts closed higher by around 1% during the previous session.

Prices have also been supported this week by the failure of American discussions in Moscow, which did not lead to any significant progress regarding the war in Ukraine, when an agreement could have allowed Russian oil to return to the market.

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