0922 GMT - Oil prices rise, with Brent crude advancing 0.4% to $74.36 a barrel and WTI up 0.2% at $70.85 a barrel. Crude has fluctuated in the mid-$70s for Brent and low $70s for WTI over the past week, Goldman Sachs analysts say in a note. Positives for prices include President Trump's additional Iranian sanctions and fresh EU sanctions on Russia's shadow fleet and oil storage restrictions, Goldman says. Headwinds include disappointing U.S. macroeconomic data on Friday and reports of a new coronavirus strain in China, alongside a resumption of oilflows from Kurdistan after a near two-year pause, Goldman writes. There is room for a potential recovery in positioning and valuation for oil, and Brent could rise up to $80 a barrel in the second quarter of the year, Goldman adds. (joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 04:22 ET (09:22 GMT)
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