FXEM - EMPIRE MARKETS - Company New Article
To access the website's classic version and the new accounts, please click here
May 09, 2025
Oil rises on market optimism
Prices rise as business sentiment improves
|
Oil prices rose during trading on Friday, May 9, 2025, continuing their gains for the second consecutive week, as sentiment in global markets improved and hopes grew for a positive outcome in the trade talks between the United States and China. West Texas Intermediate (WTI) crude recorded significant gains near $60.26 per barrel, while Brent crude stabilized above $64, supported by easing concerns about a supply glut and continued expectations of improved global demand in the second half of the year. |
 |
The decline in the US dollar also supported oil prices, making crude more attractive to investors holding other currencies, along with indications of a decline in weekly US inventories.
With trade optimism continuing, oil prices are expected to remain within a limited upward range, awaiting further developments in trade negotiations and any signals from OPEC+ regarding production policy.