{"id":48690,"date":"2025-05-17T02:31:09","date_gmt":"2025-05-16T23:31:09","guid":{"rendered":"https:\/\/sudanevents.com\/?p=48690"},"modified":"2025-05-17T02:31:09","modified_gmt":"2025-05-16T23:31:09","slug":"oil-heads-for-weekly-gain-but-remains-under-supply-hike-pressure","status":"publish","type":"post","link":"https:\/\/sudanevents.com\/index.php\/2025\/05\/17\/oil-heads-for-weekly-gain-but-remains-under-supply-hike-pressure\/","title":{"rendered":"Oil Heads for Weekly Gain but Remains under Supply Hike Pressure"},"content":{"rendered":"<p>Oil prices edged up on Friday, heading for a second consecutive weekly gain on easing US-China trade tensions, although the optimism was somewhat offset by higher supply expectations from Iran and OPEC+.<\/p>\n<p>Brent crude futures were up 29 cents, or 0.5%, at $64.82 per barrel at 1054 GMT, while US West Texas Intermediate crude futures rose 27 cents, or 0.4%, to $61.89.<\/p>\n<p>Both contracts fell more than 2% in the previous session on the prospect of an Iranian nuclear deal, which could result in more barrels being released onto the global market.<\/p>\n<p>&#8220;The enthusiasm resulting from progress in relations between the US and China allowed the oil price to recover,&#8221; said Harry Tchiliguirian, group head of research at Onyx Capital Group, Reuters reported.<\/p>\n<p>&#8220;But OPEC+ accelerates the unwinding of its voluntary supply cuts and the US-Iran nuclear talks are still ongoing, keeping the barrels of the latter still flowing to China.&#8221;<\/p>\n<p>US President Donald Trump said the US was nearing a nuclear deal with Iran, with Tehran &#8220;sort of&#8221; agreeing to its terms. However, a source familiar with the talks said there were still issues to resolve.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices edged up on Friday, heading for a second consecutive weekly gain on easing US-China trade tensions, although the optimism was somewhat offset by higher supply expectations from Iran and OPEC+. Brent crude futures were up 29 cents, or 0.5%, at $64.82 per barrel at 1054 GMT, while US West Texas Intermediate crude futures &hellip;<\/p>\n","protected":false},"author":2,"featured_media":48695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-48690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic"],"_links":{"self":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/48690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/comments?post=48690"}],"version-history":[{"count":1,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/48690\/revisions"}],"predecessor-version":[{"id":48696,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/48690\/revisions\/48696"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media\/48695"}],"wp:attachment":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media?parent=48690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/categories?post=48690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/tags?post=48690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}