Oil settles up on weaker US dollar, mixed economic news

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The Star 6h ago

Oil settles up on weaker US dollar, mixed economic news - The Star

Quick Summary:

Oil prices edged up on Thursday as investors weighed a weaker US dollar, potential Opec+ output increase, mixed economic news, conflicting US tariff signals and news from the Russia-Ukraine war.

US Federal Reserve officials indicated in television interviews they see no urgency to change monetary policy as they seek more information to determine how trade tariffs are affecting the economy.

Businesses are increasing prices and cutting financial guidance due to higher costs stemming from US President Donald Trump's trade war, which has also roiled global supply chains.