Oil prices rise on strong China growth and Middle East conflict, brent crude at $84.24/bbl
Gold price declines ahead of US inflation data, silver gains marginally The previous session also saw a lift in oil prices to a one-week high, supported by reports of increased crude oil imports in China during April. Furthermore, investors interpreted the cooling U.S.
job market as a potential signal for future interest rate cuts, further buoying oil prices. “Crude oil prices are likely to see some consolidative moves this week with too many important data lined-up, of which focus will be on the monthly reports of OPEC and International Energy Agency (IEA) and the weekly U.S.
oil inventory data from EIA - for cues on the demand/ supply equation," said Pranav Mer, VP - Research (Commodity & Currency) BlinkX and JM Financial. Also read: Oil suffers weekly loss on stronger US dollar, record-high Fed rates; Brent sticks to $82/bbl Milestone Alert!
Livemint tops charts as the fastest growing news website in the world
