1332 GMT - Oil prices rise, with Brent crude up 0.4% at $69.58 a barrel and WTI up 0.5% at $66.64 a barrel. The increase hasn't offset recent losses, with Brent down 5.4% on week, and WTI down 5.3%. Prices have sharply declined since the U.S. imposition of tariffs on Canadian and Mexican imports, coinciding with major producers increasing output quotas for the first time since 2022, JPMorgan analysts say in a note. OPEC+ unexpectedly said on Monday that it will start raising output in April. That said, Brent is now trading below its fair value and short-term technical trading indicators have entered oversold territory, analysts say. JPM expects the price of Brent to average $73 a barrel in 2025, before slipping to $61 a barrel in 2026.(joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
March 06, 2025 08:33 ET (13:33 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。