2024-12-25 16:36
IndustriOil Rises in Thin Trading Amid China Stimulus Hope
Oil climbed over 1.2%, with WTI settling above $70/bbl, boosted by reports of CN's potential $411B bond sales to stimulate its economy. Technical buying was triggered as crude breached its 50-day moving average.
Geopolitical uncertainties, including Trump's Panama Canal threats and sanctions on Iran, countered gains, while a strong dollar pressured commodities. Trading remains subdued ahead of the holidays, with focus shifting to OPEC's planned production increases in 2025.
#Oil #WTI #CrudeOil #Commodities #Geopolitics #EnergyMarkets
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Oil Rises in Thin Trading Amid China Stimulus Hope
| 2024-12-25 16:36Oil climbed over 1.2%, with WTI settling above $70/bbl, boosted by reports of CN's potential $411B bond sales to stimulate its economy. Technical buying was triggered as crude breached its 50-day moving average.
Geopolitical uncertainties, including Trump's Panama Canal threats and sanctions on Iran, countered gains, while a strong dollar pressured commodities. Trading remains subdued ahead of the holidays, with focus shifting to OPEC's planned production increases in 2025.
#Oil #WTI #CrudeOil #Commodities #Geopolitics #EnergyMarkets
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