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Oil prices rise after reaching initial agreement regarding the US debt ceiling
[29/05/2023 02:43]
Singapore - Saba
Oil prices rose in early Asian trade on Monday after US leaders reached a tentative agreement on the government's debt ceiling, which could prevent a catastrophic default in the world's largest economy and oil consumer.

Brent crude futures rose 39 cents, or 0.5 percent, to $77.34 a barrel.

West Texas Intermediate crude futures rose 45 cents, or 0.6 percent, to $73.12 a barrel.

On Saturday, US President Joe Biden and House Speaker Kevin McCarthy reached an agreement in principle to suspend the government's debt ceiling of $31.4 trillion.

Investors are looking forward to data on the manufacturing and services sectors in China this week, as well as data on non-farm payrolls in the United States on Friday, looking for indications of economic growth and demand for oil.


Gold Edges Higher Ahead of U.S. Jobs Data
Korea's Travel Account Posts Surplus for 3rd Month in Row
Oil price tops $100 a barrel
Italy budget deficit at 3 percent
Oil rises as markets assess supply risks
Italian Industrial production falls 0.6 percent
Korea large companies' exports rise 10 percent
China's foreign exchange reserves rise to $3.3991 trillion
S. Korea's exports rise 33.9 percent in January
Japan's LNG imports down 1.4 percent

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