Oil bounced around in today's US session but has resolved to the upside on a combination of things:
Economic optimism and a positive risk mode after a US-Vietnam trade dealA survey from the Dallas Fed showing 42% of large US oil production firms expect to significantly decrease drillingBroad USD weakness (tying back to trade and perhaps the US budget)Mixed in with that was a US weekly inventory report that was mostly bearish and marked the lows of US trading at $65.18. Oil has since rallied nearly $2 and is at the best levels since the Israel-Iran ceasefire.
Hence then, the article about oil climbs after us trade deal and signs of slumping us drilling was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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