(ABM FN-Dow Jones) Oil prices rose sharply on Tuesday after three days of declines.
The July futures for a barrel of West Texas Intermediate crude closed 3.4 percent higher at $69.42 on the New York Mercantile Exchange. Brent oil for August rose to more than $74 a barrel.
“Crude oil prices got a boost after China announced a broad stimulus package,” said Edward Moya of Oanda, in a research report.
In addition, traders are anticipating the impact of the Saudi production curtailment to see the market tighten quickly next month. Oil prices continued their rise after the latest inflation report gave the final push for the Federal Reserve not to raise interest rates on Wednesday, Moya said.
Investors are now focusing on the weekly reports on US oil supplies. First API comes with figures and on Wednesday the official report from EIA follows.
Bron: ABM Financial News
The editors of follow from Beursplein 5 ABM Financial News developments on the stock exchanges, and the Amsterdam stock exchange in particular, closely. The information in this column is not intended as professional investment advice or as a recommendation to make certain investments.
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2023-06-13 19:31:02
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