Oil futures rise sharply to snap a two-week losing streak as dollar losses, tighter U.S. sanctions against Iranian crude and signs of easing in some U.S. trade tensions contribute to gains.
The market is also helped by OPEC+ updating output compensation plans by members that have produced above their agreed levels.
“As we go through the list of these supportive elements, none of them represent a significant game changer within an oil market that still needs to contend with the prospect of a major tariff-related downshift in global demand as this year proceeds,” Ritterbusch says in a note.
DJ Kamal Mustafa
I’m DJ Kamal Mustafa, the founder and Editor-in-Chief of EMEA Tribune, a digital news platform that focuses on critical stories from Europe, the Middle East, Africa, and Pakistan. With a deep passion for investigative journalism, I’ve built a reputation for delivering exclusive, thought-provoking reports that highlight the region’s most pressing issues.
I’ve been a journalist for over 10 years, and I’m currently associated with EMEA Tribune, ARY News, Daily Times, Samaa TV, Minute Mirror, and many other media outlets. Throughout my career, I’ve remained committed to uncovering the truth and providing valuable insights that inform and engage the public.
