WTI Crude oil futures cut losses and edged up impressively amid supportive cues from equities and positive US economic growth numbers. The US equities stayed supported on steady economic cues. The US economy grew by slightly more than previously estimated in the third quarter of 2025, according to a report released by the Commerce Department. The real gross domestic product spiked by 4.4% in the third quarter compared to the previously reported 4.3% gain. Oil broke above $60 per barrel and ended above $61 per barrel, rising more than 3% for the week. Meanwhile, the global crude oil demand growth is expected to rise by 930,000 barrels per day (bpd) in 2026, due to lower oil prices and a normalization of economies after the 2025 tariff chaos, the International Energy Agency (IEA) said in a latest update, raising its demand growth estimate by 70,000 bpd from last month. Global oil demand is set to grow by an average 930,000 bpd this year, accelerating from 850,000 bpd in 2025, the agency said in its closely-watched Oil Market Report for January. In the December report, the IEA had expected global oil demand growth at 860,000 bpd for 2026.
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