From Yahoo Finance: 2025-06-06 15:20:00

Oil prices rose over $64 a barrel as stronger US jobs data allayed fears of an economic slowdown. The positive news led to the largest weekly gain in oil prices since November. Commodity trading advisers reduced their bearish positions in response to the data. Optimistic signs in US-China trade talks further supported the rally. Despite recent range-bound trading, oil prices have been impacted by trade tensions and increased OPEC+ production. The number of oil rigs in the US has dropped to the lowest level in about four years as shale explorers anticipate lower global oil demand.



Read more at Yahoo Finance: Oil Rises as Solid US Jobs Data Pushes Algos to Drop Short Bets