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  • Oil prices rose further on Friday and were on track for strong weekly gains as investors weighed the prospect of a wider Middle East conflict disrupting crude flows against a well-supplied global market.
  • Brent crude futures were up 55 cents, or 0.7%, at $78.17 a barrel, as of 0831 GMT. U.S. West Texas Intermediate crude futures were up 50 cents, also 0.7%, at $74.21 a barrel.
  • Concerns over oil supply that drove up prices earlier in the week have also been tempered by OPEC's spare production capacity and the fact that global crude supplies have yet to be disrupted by the Middle East unrest.
  • Indian Trade Minister Piyush Goyal and U.S. Commerce Secretary Gina Raimondo signed an agreement on Thursday to cooperate on strengthening supply chains in the two countries for lithium, cobalt and other critical minerals used in electric vehicles and clean energy applications.
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News, data, references and commentaries compiled from Bloomberg, Reuters, Yahoo, CNN, CBS, Market Watch, Fx street etc. Any opinions, news, research, analysis, prices, or other information contained in this report/website is provided as general market commentary, and does not constitute investment advice. Orient Financial Brokers (OFB) will not accept liability for any loss or damage, including without limitation to any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content in this report/ website is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Whilst OFB has taken reasonable care to ensure information provided here is correct, OFB does not offer any warranty as to the accuracy or completeness of such information. None of the information provided on or through the website constitutes individualized investment advice or other professional advice. We recommend user not make any investment decision of any sort on the basis of the information and set out in our website. Orient Financial Brokers (OFB) will not accept liability for any loss or damage, including without limitation to any loss or profit which may arise directly or indirectly from the use of/or reliance on such information.

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