Friday, February 7, 2025
Oil rises 1%, heads for weekly gain as Middle East conflict rages- oil and gas 360

Oil rises 1%, heads for weekly gain as Middle East conflict rages

Investing Oil rallied after revisions to US data confirmed that inflation is ebbing, boosting confidence that the Federal Reserve will cut interest rates later this year. West Texas Intermediate rallied above $77 a barrel. Prices have been buoyed by the S&P 500 reaching record highs, heightened geopolitical risk going into the weekend and crude crossing major moving averages, said Dennis