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Oil Prices Rise in Holiday Trading as Investors Await Key Data from China and the US

share-iconPublished: Monday, December 30 share-iconUpdated: Monday, December 30 comment-icon3 months ago
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REUTERS
Oil Prices Rise in Holiday Trading as Investors Await Key Data from China and the US

Credited from: REUTERS

  • Oil prices have edged up in thin holiday trading as traders await crucial economic data from China and the US.
  • Brent crude futures rose by 5 cents to $74.22 per barrel, while U.S. West Texas Intermediate crude gained 3 cents to $70.63.
  • Recent trends showed a 1.4% increase in oil prices last week due to significant drawdowns in U.S. crude inventories.
  • Chinese authorities are set to issue a record 3 trillion yuan in special treasury bonds, fueling expectations for an economic rebound.
  • Investors are closely watching China's PMI factory surveys and the U.S. ISM survey scheduled for later this week.

For more details, visit the original article at Reuters.

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Felix Ledger

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

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