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HuaweiThe price of oil hovered around $89 a barrel Monday as investors focused on signs that China’s economy may be picking up after a prolonged slowdown.
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The price of oil rose above $89 a barrel on Monday as investors focused on signs that China’s economy may be picking up after a prolonged slowdown.
Global oil prices fell on Friday with traders taking profits ahead of the weekend pause and amid US budget talks, eurozone uncertainty and tensions over Iran’s nuclear programme, analysts said.
The price of oil rose Thursday as US leaders voiced optimism that a budget deal would be reached before the end of the year.
LONDON - Brent crude oil futures fell on Wednesday on fears of a looming budget crisis in the United States, the world’s top oil consumer.
Oil rose above $111 per barrel on Tuesday, supported by a bailout payments deal for Greece although worries over a looming U.S. fiscal crisis kept a lid on gains.
Oil prices steadied on Tuesday, trading within a narrow range after eurozone ministers and the International Monetary Fund clinched a deal overnight to release fresh loans to debt-plagued Greece.
The price of oil rebounded slightly to above $87 a barrel on Wednesday after an explosion injured 10 people on a bus in Tel Aviv, a development that has the potential to seriously complicate diplomatic efforts to broker a cease-fire between Israel and Islamic militant group Hamas.
Brent crude oil rose more than $1 a barrel on Wednesday after an explosion on a Tel Aviv bus intensified concerns the clashes between Gaza and Israel could lead to a wider regional conflict that would disrupt oil flows.
Oil rose above $108 a barrel as a showdown between Israel and the Palestinians stoked worries about supply, but ample stockpiles supplies and concern about the well-being of the global economy kept gains in check.