CA
NZ
UK
US
AU
IND
Section1: Commodity Update:
WTI crude oil futures climbed to around $60 per barrel on May 9, 2025, building on gains from the previous session and heading for a weekly increase. The rise was fueled by optimism surrounding US-China trade negotiations, as officials from both nations are scheduled to meet over the weekend, raising hopes of easing tensions between the world’s two largest oil consumers. Market sentiment also improved following the announcement of a US-UK trade agreement. However, gains were limited by OPEC+ plans to ramp up production, although reports indicated a drop in OPEC’s April output in Libya, Venezuela, and Iraq. Earlier in the week, a sharper-than-expected fall in US crude inventories and initial signs of a potential supply correction provided additional support to prices.
Data Source: Trading Economics
Section 2: Company Overview and Fundamental Insights
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