“Oil prices rose on Monday, December 2, thanks to factory activity in China and a shaky truce between Israel and Lebanon despite a ceasefire agreement.”, — write: epravda.com.ua
Oil prices rose on Monday, December 2, thanks to factory activity in China and a shaky truce between Israel and Lebanon despite a ceasefire agreement. This is reported by Reuters. Brent crude was up 34 cents, or 0.47%, at $72.18 a barrel, while U.S. West Texas Intermediate crude was up 32 cents, or 0.47%, at $68.32 a barrel. previous session. “Oil prices managed to stabilize in the previous week, with continued expansion in China’s manufacturing activity reflecting some policy success as a result of recent stimulus measures,” said Yip Jun Rong, market strategist at IG.Advertisement: A private sector survey showed industrial activity in November China grew at its fastest pace in five months, boosting optimism among Chinese companies amid trade threats from US President-elect Donald Trump. A truce between Israel and Lebanon took effect on Wednesday, but each side accused the other of violating the ceasefire. A statement from Lebanon’s health ministry said several people were injured in two Israeli strikes in southern Lebanon. Airstrikes also intensified in Syria, as President Bashar al-Assad vowed to defeat rebels who have stormed the city of Aleppo.Advertisement: Both benchmarks suffered a weekly decline of more than 3% last week as concerns over supply risks from the conflict with Israel and Hezbollah eased. and oversupply forecasts in 2025, even though it is expected that OPEC+ will continue to cut production.
