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Oil Buoyed as Bullish US Figures Ease Concern About Weak Demand
Oil extended gains as a stream of bullish data out of the US pointed to resilient domestic demand, even as trade strife continued to weigh on sentiment. West Texas Intermediate rose 2.2% to settle near $68 a barrel, continuing a rebound from oversold territory, while Brent settled just below $71. US consumer prices rose at the slowest pace in four months in February, offering a reprieve after months of stalling inflation progress. At the same time, US government figures Wednesday showed gasoline demand is up to 9.2 million barrels a day, the highest level since November. The nation’s oil inventories gained by 1.5 ... (full story)
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- Posted: Mar 12, 2025 4:10pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 77
