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

TheStar Sat, Jun 03, 2023 08:47am - 10 months View Original

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.

NEW YORK: 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.

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