Oil set for weekly gain on signs of improving demand

📆 5/17/2024 1:15 AM
📰 YahooFinanceCA

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Oil prices rose in Asian trading hours on Friday, with global benchmark Brent set for its first weekly increase in three weeks on signs of improving global...

FILE PHOTO: A Marathon Oil well site is seen in the Eagle Ford Shale oil field in south TexasNEW YORK - Oil prices rose in Asian trading hours on Friday, with global benchmark Brent set for its first weekly increase in three weeks on signs of improving global demand and slowing inflation in top oil consumer the United States.

Recent economic indicators from the United States have fed into the optimism over global demand. U.S. consumer prices rose less than expected in April, data showed on Wednesday, boosting expectations of lower interest rates in the country.

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