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Oil rises on Thursday
Aya Anwar Published in Amwal Al Ghad on 08 - 05 - 2025

Oil prices rose slightly on Thursday, recovering from a sharp fall in the previous session, as hopes for progress in upcoming US-China trade talks supported market sentiment. Brent crude climbed 10 cents to $61.22 a barrel, while US West Texas Intermediate (WTI) gained 13 cents to $58.20 by 0632 GMT.
Investors were encouraged by the prospect of negotiations between US Treasury Secretary Scott Bessent and China's top economic official in Switzerland on May 10, despite lingering tensions. However, the Federal Reserve's warning on economic uncertainties and rising US gasoline inventories capped gains, fuelling concerns over weakening demand. A stronger US dollar and expectations of increased supply from OPEC+ added further pressure on prices.
Attribution: Reuters
Subediting: M. S. Salama

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