Oil prices extended gains, settling above $72 a barrel as supply concerns, OPEC+ policy uncertainty, and a weaker U.S. dollar supported crude amid market volatility.
The U.S. dollar posted strong gains in 2024, boosted by higher Treasury yields and a cautious Fed policy outlook, while markets braced for economic shifts under Trump’s administration.
Eurozone’s inflation at 2% raises caution around ECB rate cuts, ING’s Pesole notes EUR looks expensive as markets weigh wide rate gap between ECB and U.S. Fed.
