Oil Prices Are Set to Extend Their String of Weekly Gains ...Middle East

OILPRICE - Economy
Oil Prices Are Set to Extend Their String of Weekly Gains
source : OILPRICE ( Middle East ) () 74
Crude oil prices were set to end the week with yet another increase, extending a three-week string of gains amid expectations that the latest round of U.S. sanctions against Russia would affect global supply. Prices could receive additional support now from the latest GDP data from China, which showed the country hit its target for 2024, at 5%, versus analyst expectations of 4.9% growth. Even with forecasts about peak demand for crude oil, China’s economy is still dependent on hydrocarbons, meaning the news is bullish for crude. “Supply…

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