Oil prices stabilize after weekly losses amid OPEC+ output cuts
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#12d86ea3 ver:1.9

Oil prices stabilize after weekly losses amid OPEC+ output cuts. Concerns about weaker global demand, rising inventories, and fading hopes for US interest rate cuts contribute to the decline. Traders monitor if US government will replenish strategic reserves. OPEC+ may extend output cuts if demand doesn't pick up. Oil prices rise on OPEC+ production cuts, but weekly losses due to US economic uncertainty and limited supply disruptions from Israel-Hamas war. Brent crude futures for July up 16 cents to $83.83 a barrel, US West Texas Intermediate crude for June up 19 cents to $79.14 a barrel. Weekly losses due to higher long-term interest rates and demand uncertainty. OPEC+ may extend output cuts beyond June....

#newstr #OilPrices #Opec+ #OutputCuts #UsEconomy #MiddleEast 

 https://here.news/story/12d86ea3?ver=1.9