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Jul 02, 2025

Oil rises to $65.13 amid easing tensions

 

OPEC+ output plans and a weaker dollar support demand

The main reasons for height

A Reuters report reported that OPEC+ intends to increase production in August, but the market is expected to priced this increase in advance.

The US dollar index decreased to support oil demand globally, which increased purchasing power.

An economic slowdown in the United States and the rise of seasonal demand in the summer season led to moderate optimism in the market.

Violating data

An unexpected increase in US crude oil stocks by 680,000 barrels that pushed the markets to balance supply and demand.

Saudi exports to the highest level in a year, supported by the decision to increase monthly production by 450,000 barrels in June.

  USOIL height

 Short -term expectations

Analysts expect Brent price to settle near $ 67 a barrel, with the possibility of an escalation of about $ 70 if US stocks are diminished or the Middle East supplies are affected.

- Source: Reuters


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