Oil prices settle up on possible supply disruption

By X-blogger - on January 8, 2025

Oil prices settled higher, driven by concerns over limited supply from Russia and Iran because of Western sanctions and expected higher Chinese demand. Traders were looking to the Chinese stimulus plans to drive growth as supplies are tight following the Christmas and New Year’s holidays.

The Oil-Dollar pair exploded 1.0% in the last session. The MACD is giving a positive signal.
Support: 71.66 | Resistance: 75.65

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