Oil Prices Are Rallying Once Again

Following several weeks of declines, oil prices are now rising once again on a combination of geopolitical risk, rising demand, and supply concerns.Friday, May 10th 2024Oil prices are once again climbing after several weeks of declines. Falling US crude inventories and robust Chinese imports have sparked some bullish sentiment in oil markets. Brent futures are set to post their first weekly gain since early April, moving closer to $85 per barrel, further boosted by the easing of the US labor market (jobless claims the highest in…