Oil could gain this week!
Oil is heading for its best week since October due to reasons such as rising geopolitical risks and a decline in U.S. crude oil inventories.
Oil is heading for its largest weekly gain since October due to ongoing geopolitical tensions, a decline in U.S. crude oil inventories, and expectations of additional government stimulus for China, a major crude oil importer.
Global benchmark Brent was around $82 per barrel after jumping 3 percent in the previous session, marking its first breakout from a recent narrow range. U.S. crude oil held around $77 per barrel, trading near its highest level in two months.
News Source: 12punto
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