Oil continues to rise following Trump win - Noor Capital - Middle East News 247
April 10, 2025
NEWS DESK

Oil continues to rise following Trump win – Noor Capital

Oil continues its upward trajectory since the start of Wednesday trading, extending a strong rally driven by developments in the U.S. political landscape, American oil inventories, Middle Eastern tensions, and a boost in risk appetite across markets.

Trump’s economic policies focus on increasing tariffs and implementing more tax breaks for families and businesses, making his agenda pro-business—many see it as beneficial to the U.S. economy.

U.S. government data on oil inventories revealed a rise of 515,000 barrels in the week ending October 25, far below the previous week’s increase of 5.47 million barrels, falling short of the forecasted 2.3-million-barrel rise.

According to data from the American Petroleum Institute, crude and gasoline inventories in the U.S. have dropped. Crude oil stockpiles fell by 573,000 barrels, gasoline inventories by 282,000 barrels, while petroleum products declined by approximately 1.46 million barrels for the same period, as reported on Tuesday.

Oil futures rose to $72.20 per barrel, compared to the previous session’s close at $71.81. U.S. crude fell to a low of $72.25 during Tuesday’s trading, down from its highest level of $71.89.

Soft Landing Prospects

Data released on Wednesday pointed to a possible “soft landing” for the U.S. economy, highlighting a notable improvement in the labor market and progress in the Federal Reserve’s efforts to curb inflation.

U.S. GDP grew by 2.8% in Q3 2024, compared to 3.0% in the same period last year, which missed the forecasted 3.0% increase. The ADP National Employment Report showed a rise in non-farm payrolls by 233,000 in October, up from a previous reading of 159,000 and exceeding market expectations of a 115,000 increase.

The Personal Consumption Expenditures (PCE) index—a key inflation measure favored by the Federal Reserve—rose by 1.5% in Q3 2024, down from a previous 2.5%, staying below the central bank’s inflation target, which supports a stronger risk appetite and lifted Wall Street stocks.

The PCE index, excluding food and energy prices, grew by 2.2% in Q3, compared to 2.8% in the same period last year, slightly surpassing market expectations of a 2.1% rise.

This data has fueled increased risk appetite in financial markets, contributing to the recent rally. Oil remains one of the leading risk assets in global financial markets.

Last Updated on 5 months by PR News Desk

PR News Desk

PR News Desk

Disclaimer: This press release, supplied by an external third-party provider, is not under the control of this website. The information is provided 'as is' and 'as available,' and has not been edited by this website. Neither this website nor its affiliates can guarantee the accuracy of the content or endorse the opinions expressed in this press release. This press release is intended solely to inform and educate. It does not offer tax, legal, or investment advice or provide any opinion on the suitability, value, or profitability of any specific security, portfolio, or investment strategy. Neither this website nor its affiliates will be held liable for any errors or inaccuracies in the content, nor for any actions you may take based on this information. Using the information in this press release, you agree to do so at your own risk. This website, its parent company, affiliates, directors, officers, employees, agents, advertisers, and content providers, shall not be liable for any direct, indirect, consequential, special, incidental, punitive, or exemplary damages, including but not limited to lost profits, savings, or revenues, whether arising from negligence, tort, contract, or any other legal theory, even if advised of the possibility of such damages or if they could have been reasonably foreseen. Send press releases to press@menews247
Follow Me:

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *