- Oil prices rose in early trade on Friday, as players took stock of the U.S. Treasury secretary's comments that the country's economy is likely in a stronger position than indicated by weak first-quarter data, coupled with supply concerns as conflict continues in the Middle East.
Data showed that economic growth slowed in the first quarter, and prior to Yellen's comments, tremors from an acceleration in inflation had weighed on oil prices as investors calculated that the Federal Reserve would not cut interest rates before September. Israel stepped up airstrikes on Rafah after saying it would evacuate civilians from the southern Gazan city and launch an all-out assault despite allies' warnings this could cause mass casualties.A Secret Service agent assigned to Vice President Kamala Harris’ detail was removed from their assignment after displaying behavior that colleagues found “distressing,” the agency said.
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