💨 Abstract

Oil prices rose on Friday, set for a weekly gain, due to a larger-than-expected drawdown from U.S. crude inventories last week, boosting fuel demand during the holiday season. Brent and WTI crude are expected to gain about 1.6%. Chinese economic growth optimism and planned special treasury bonds also contributed to the rise. Tensions in the Middle East and the war between Russia and Ukraine could impact oil supplies next year.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖