Oil up over 2% after US debt deal and jobs data, focus turns to Opec+

Brent futures rose US$1.85, or 2.5%, to settle at US$76.13 a barrel, while US West Texas Intermediate (WTI) crude rose US$1.64, or 2.3%, to settle at US$71.74.

SINGAPORE: Oil prices rose over 2% on Friday after the US Congress passed a debt ceiling deal that averted a government default in the world's biggest oil consumer and jobs data fueled hopes for a possible pause in Federal Reserve interest rate hikes.

The focus is now turning to a meeting of Opec and its allies this weekend.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!


Next In Business

BNM: Micro, small businesses to continue enjoying zero-cost transactions via DuitNow QR payments
Hong Leong Bank to continue to waive transaction fees for DuitNow QR payments
Public Mutual declares over RM47mil for two funds
Oil prices mixed amid macroeconomic concerns
S&P 500 dips after US inflation data
Wall St Week Ahead: US stock market’s powerhouses tested by soaring bond yields
‘GST critical to restoring the country’s fiscal health’
CPO price set to recover
New era of payments
Dollar’s smile makes Wall Street frown

Others Also Read