NYSEARCA:OIH

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$414.70
-24.27 (-5.53%)
At Close: Jun 05, 2026
As WTI nears the $80 mark and Brent approaches $85, traders closely monitor resistance levels amid rising geopolitical tensions.
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Oil prices rose on Friday, continuing upwards trend on the signs of improving economy in China and as negotiations to halt hostilities in the stand-off between Israel and Hamas yielded no results.
China's crude oil imports increased in April, indicating that China's economy may be gaining steam.
Saudi Arabia boosted its economy, kept China as an oil customer, opened up more jobs for women, and is becoming more socially liberal.

Crude Oil Remains Below $80 Level

12:08pm, Thursday, 09'th May 2024
Stocks are lower ahead of Thursday's open. Bill Baruch discusses this, as well as how oil remains below the $80 level.
OPEC will stop publishing a calculation of the world's demand for its own crude in its monthly oil report, two sources close to the matter said, focusing instead on forecasts for demand for oil from t
A U.S. treasury official warned of environmental risks from illicit transfers of Iranian oil off Malaysia, news portal Malaysiakini reported on Thursday, as the United States narrows its focus on fina
Profit margins for diesel are slumping as new refineries boost supplies and as mild weather in the northern hemisphere and slow economic activity eat into demand, putting oil prices under further down
Oil futures rose Thursday morning, building on a gain seen the previous session after government data showed an unexpected drop in U.S. crude inventories last week.
The immediate outlook for the crude oil market is bullish, as traders anticipate demand trends to drive prices higher in the near term.
As energy prices notch a modest increase over 0.25%, analysts speculate on the potential for further gains amid fluctuating market conditions.
Oil prices rose in early trade on Thursday as shrinking U.S. crude inventories signalled tighter supply, and amid rising hopes that the Federal Reserve would cut interest rates by the end of the year.
Goldman Sachs on Wednesday said they no longer expect OPEC+ to announce a partial unwind of voluntary production cuts in June.
Russia cut its crude oil production by less than pledged last month, exceeding a target agreed on in March with the Organization of Petroleum Exporting Countries (OPEC), Bloomberg news reported, citin
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