Crude Oil Prices Jump

Oil entered into the largest rising pattern of the last two weeks amid higher expectations and a less aggressive approach on trade from the U.S. will help revive growth.

Currently, oil trades at $58.66, which is an addition of $0.10 or 0.17% from the previous close of $58.56.

The daily range is from $58.41 to 58.72, while the trading volume is 31.067K.

In reality, oil prices are well advancing into a second weekly retreat after a big jump in American oil-product stockpiles highlighted weak demand.

Many market analysts alarmed that the Middle East’s is huge producer of oil and its supplies are potentially vulnerable due to rising political risks in the country and broader region.