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Oil Prices Climb on Growing Optimism for Economic Policy Support

share-iconPublished: Friday, January 03 share-iconUpdated: Friday, January 03 comment-icon11 months ago
News sources:
REUTERS
Oil Prices Climb on Growing Optimism for Economic Policy Support

Credited from: REUTERS

  • Oil prices have been boosted, continuing their gains after reaching a two-month high on hopes for more governmental support to revive economic growth.
  • Brent crude futures went up 16 cents to $76.09 per barrel, while U.S. West Texas Intermediate rose 19 cents to $73.32 per barrel.
  • Despite a soft end to 2024 for manufacturing activity globally, analysts anticipate continued policy easing from central banks, aiming to spur economic growth.
  • The focus is also on China's proactive policies aimed at boosting consumption and driving oil demand in 2025.
  • Weather forecasts indicate a cold snap may increase demand for diesel, further influencing market dynamics.

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Oil prices Brent crude Wti Economic growth Fuel demand Policy support
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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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