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Oil prices rise on global demand optimism

Market outlook improves despite earlier volatility

Oil Set for Recovery After Solid Weekly Gains Market sentiment improves on global demand hopes Oil prices posted notable weekly gains and appear poised for further recovery, supported by improving expectations for global demand and signs of economic stability in both China and the U.S. Market sentiment was also lifted by easing concerns over additional output cuts from OPEC+.

As of today’s session, Brent crude is trading near $65.80 per barrel, with traders closely watching the upcoming U.S. jobs report, which could influence the dollar’s movement and the Federal Reserve’s interest rate outlook — factors that may significantly affect oil markets in the days ahead.

 Source: Reuters

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