Oil rises 3% on signs of more Europe and China demand

By X-blogger - on May 7, 2025

Oil prices climbed about 3% on signs of higher demand in Europe and China, lower production in the U.S., tensions in the Middle East and as buyers emerged the day after prices fell to a four-year low.

The Oil-Dollar pair skyrocketed 3.2% in the last session. The Stochastic indicator is giving a positive signal.
Support: 54.576 | Resistance: 62.646

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