Oil Prices Steady Near Two-Month High Amid Market Optimism

Business Today08:05

Oil prices have risen for five consecutive times, Energy stocks lead the rise in U.S. stocks. What is the market anticipating?

The rise in oil prices is mainly due to the market's expectation of the Trump administration's upcoming sanctions against Iran, Venezuela, and Russia, which will lead to a reduction in Global Crude Oil Product supply, causing Energy Stocks to strengthen and become the stocks with the largest increase this week.

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Goldman Sachs: It is expected that Iran's oil supply will decline before Q2, with Brent crude oil projected to reach $78 in June.

Goldman Sachs predicts that Iran's Crude Oil Product production will slightly decrease on Friday.

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