02/02/2024 Crude oil News Posted By https://www.smarttradecalls.com/. Chat on Whatsapp:-7668674900

Oil prices rise, but still set for weekly loss amid Gaza ceasefire chatter.

Oil prices rose on Friday and recovered a measure of sharp losses from the prior session, but were headed for a weekly decline as a series of unsubstantiated reports suggested that a Israel-Hamas ceasefire was in the works. 

Prices were also encouraged by a softer dollar, which fell in anticipation of key nonfarm payrolls data due later in the day. The reading is widely expected to factor into expectations for U.S. interest rates. 

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