NYSEARCA:OIH

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At Close: Jun 03, 2026
Oil markets rebounded from session lows as traders bet that China's 5% growth should be sufficient to boost demand for oil.
Crude oil markets have initially pulled back a bit during the trading session on Monday, but then found buyers right around the 50-Day EMA again.
Oil futures fell Monday, with traders appearing underwhelmed by the 5% economic growth target set by China's National People's Congress.
Rate hikes worldwide could also impact oil prices as global central banks tighten policy over fears of increasing inflation.
Oil prices opened lower on Monday after China set a modest target for economic growth this year of around 5%, lower than market expectations of 5.5% growth in the world's second- largest oil consumer.
Oil futures dipped Friday, then recovered, after a report by The Wall Street Journal detailing strained relations between Saudi Arabia and United Arab Emirates. The report, citing Emirati officials, s
Crude oil markets have rallied a bit during the week, but quite frankly we are still in the midst of a major consolidation area.
Crude oil markets eventually turned things around during the trading session on Friday, after initially selling off quite drastically.
WSJ reported that UAE could leave OPEC, but the country's officials have quickly refuted the report.
Oil futures edged lower Friday, but remained on track for weekly gains as traders weighed optimism over Chinese demand against rising U.S. crude inventories.
Crude oil's short-term trend is likely to be biased to the upside as long as China's demand continues to recover from COVID-related restrictions.
Oil prices slipped in early trade on Friday but were on track to post gains of nearly 2% for the week as a rebound in China's factory activity offset growing concerns about rising U.S. crude stocks an

U.S. oil futures settle at a 2-week high

02:45pm, Thursday, 02'nd Mar 2023
U.S. benchmark crude-oil prices on Thursday marked their highest settlement in two weeks. “Optimism surrounding China's economic recovery are offsetting more hot inflation data in Europe and the U.S
Oil markets stay strong as traders focus on the rebound of the Chinese economy.
Francisco Blanch, head of global commodities at BofA Global Research, explains how key geopolitical factors are shaping commodity markets.
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