Oil set for 3% weekly gain on rising Mideast tensions, better US outlook

Oil Prices News

Oil set for 3% weekly gain on rising Mideast tensions, better US outlook
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Oil prices edged down in early Asian trading on Friday but were on track to gain more than 3% for the week as U.S. jobs data calmed demand concerns and fears...

FILE PHOTO: An oil worker walks towards a drill rig after placing ground monitoring equipment in the vicinity of the underground horizontal drill in Loving County - Oil prices edged down in early Asian trading on Friday but were on track to gain more than 3% for the week as U.S. jobs data calmed demand concerns and fears of a widening Middle East conflict persisted.

Iran-aligned Houthi militants continued attacks on international shipping near Yemen this week in solidarity with Palestinians in the war between Israel and Hamas. Prices were buoyed after data showed the number of Americans filing new applications for unemployment benefits fell more than expected last week, suggesting fears the labor market is unraveling were overblown and easing recession concerns.

"Putin's government has not evinced visible concern that Russia's population might be cut in half by century's end."LUCAMA, N.C. — Tornadoes spawned by Debby leveled homes, damaged a school and killed one person early Thursday, as the tropical system dropped heavy rain and flooded communities across North and South Carolina.ADENTRA Announces Second Quarter 2024 Results

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