Oil prices recover some of previous day's losses
- Oil prices gained ground Thursday, recouping some losses from Wednesday's nearly 2% drop.
- Market investors weighed varied factors including supply, trade, and diplomatic developments.
- Sources familiar with OPEC+ talks indicated members may propose faster June output increases.
- Analysts project a prolonged US-China trade conflict could halve China's oil demand growth.
- This balancing act reflected market uncertainty regarding future price direction.
19 Articles
19 Articles
Oil Steadies After 2% Slide Amid OPEC+ Disagreements and U.S.-China Trade Uncertainty
Oil prices stabilized on Thursday after falling nearly 2% in the previous session, as investors balanced the prospect of accelerated OPEC+ output increases against mixed signals on U.S.-China trade talks and ongoing U.S.-Iran nuclear negotiations. Brent crude futures inched up 8 cents, or 0.12%, to $66.20 a barrel by 0505 GMT, while U.S. West Texas Intermediate (WTI) crude gained 9 cents, or 0.14%, to $62.36 a barrel. Prices fell sharply on Wedn…
Oil steadies after 2pct drop on potential OPEC+ output increase
BEIJING: Oil prices ticked up early on Thursday after falling nearly two per cent in the previous session, with investors weighing a potential OPEC+ output increase against conflicting tariff signals from the White House and ongoing US-Iran nuclear talks. © New Straits Times Press (M) Bhd
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