Oil prices ticked up on Friday by 1%, as the market weighed conflicting messages from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting. Brent crude was last up 53 cents at $76.79 a barrel, while US WTI rose 63 cents to $72.46 a barrel.<\/p>\n\n\n\n
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Russian President Vladimir Putin said that energy prices were approaching \u201ceconomically justified\u201d levels, while Saudi Arabian Energy Minister Prince Abdulaziz bin Salman warned short sellers to \u201cwatch out\u201d.<\/p>\n\n\n\n
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Worries of weaker-than-expected demand growth globally capped gains ahead of an expected rise in oil demand in the second half of the year. The dollar has strengthened this month against a basket of major peers, making dollar-denominated commodities such as oil more expensive for those holding other currencies.<\/p>\n\n\n\n
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The US crude rose 89 cents, or 1.2%, to $72.74 a barrel on Thursday. Benchmarks had settled more than $2 per barrel lower on Thursday after Russian Deputy Prime Minister Alexander Novak played down the prospect of further OPEC+ production cuts at its meeting in Vienna on June 4.<\/p>\n\n\n\n
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Wall Street’s main indexes also rose over progress in negotiations on raising the US debt ceiling. Russia is leaning towards leaving oil production volumes unchanged ahead of an OPEC+ policy meeting on June 4, as Moscow is content with current prices and output.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices ticked up on Friday by 1%, as the market weighed conflicting messages from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting. Brent crude was last up 53 cents at $76.79 a barrel, while US WTI rose 63 cents to $72.46 a barrel. Russian President Vladimir Putin said that energy prices …<\/p>\n","protected":false},"author":13,"featured_media":54086,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[7487,7004,7648,6844,6871],"class_list":["post-84571","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-debt-ceiling","tag-opec-2","tag-putin","tag-saudi","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/84571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=84571"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/84571\/revisions"}],"predecessor-version":[{"id":84597,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/84571\/revisions\/84597"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/54086"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=84571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=84571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=84571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}