Oil prices near 7-week high as market watches US-China trade talks, OPEC plans output increase

From Yahoo Finance: 2025-06-09 20:53:00

Oil prices remained near a seven-week high as markets awaited U.S.-China trade talks, with Brent crude at $66.87 and WTI at $64.98. The World Bank cut global growth forecast to 2.3% for 2025 due to tariffs and uncertainty. OPEC+ plans a 411,000 bpd output increase in July. Iran and U.S. remain at odds over nuclear deal terms. Europe proposes new sanctions on Russia for Ukraine invasion. U.S. oil inventory data expected to show a 2 million barrel draw.



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