Oil Prices Stable As Market Fundamentals Remain Broadly Unchanged

Canada has recently struck a pipeline deal with Alberta aimed at diversifying its oil exports beyond the United States, a move highlighted by Mark Carney's assertion that the trading relationship with the U.S. has shifted from being a strength to a weakness.

Poland has announced plans to purchase AIM-120D-3 missiles from the United States to enhance its F-35 fleet. This acquisition is part of Poland's ongoing efforts to modernize its military capabilities and strengthen its defense posture.

The U.S. is poised to meet the energy demands of a $2.5 trillion A.I. datacenter building boom through diverse energy sources, including solar, batteries, natural gas, and nuclear power. This adaptability in energy infrastructure is crucial as the A.I. sector continues to expand rapidly.

Silver prices have increased due to supply concerns as China's silver inventories have fallen to their lowest level in a decade, according to ING. This decline in stockpile is significant as it raises fears about future supply constraints in the market.

Global markets experienced a rise driven by optimism surrounding a potential interest rate cut by the Federal Reserve, alongside renewed investor interest in artificial intelligence. U.S. markets were closed on Thursday for the Thanksgiving holiday, limiting trading activity domestically.

U.S. applications for unemployment benefits decreased by 6,000 to 216,000 for the week ending November 22, according to the Labor Department, indicating that layoffs are not spiking as previously feared.

Oil futures settled higher after a volatile trading session, showing resilience despite bearish signals from U.S. crude and product stock builds. The market's focus shifted towards ongoing peace negotiations between Russia and Ukraine, which are influencing trader sentiment.

U.S. crude oil inventories saw an increase last week, attributed to a rise in imports and a decline in exports, as reported by the U.S. Energy Information Administration. This shift reflects changing dynamics in the oil market, where net imports have become a significant factor in inventory levels.