The survey of 31 economists and analysts predicted that Brent crude would average $74.33 per barrel in 2025, down from a forecast of $74.53 in November, marking an eighth straight downward revision.
Brent crude futures rose 22 cents, or 0.3 percent, to $73.80 a barrel by 0450 GMT
Falls were limited, however, by concerns of supply disruptions in the event of more US sanctions on major suppliers Russia and Iran
Earlier this week, Yellen said softness in the oil market presents an opportunity for more sanctions
Bitcoin climbed to an all-time high as Donald Trump's victory in the US presidential election along with pro-crypto candidates being voted to Congress spurred expectations of a light-handed regulatory environment.
Oil prices fell as much as five percent in early trade before paring some of their losses
Brent crude futures rose 8 cents, or 0.11 percent, to $73.14 a barrel by 0120 GMT
Brent crude futures fell $1.39, or 1.87 percent, to $73.06 a barrel. US West Texas Intermediate crude settled at$69.22 a barrel, down $1.45 or 2.05 percent
NBR also exempted VAT at production and trading of the highly import-based edible oil
The ongoing Red Sea crisis can potentially revive Russia-Saudi oil tensions, according to a Reuters analysis
Russia became China's top oil supplier in 2023, defying Western sections
Global food prices dropped last year, with notable exceptions like rice due to climate and supply concerns
Oil prices were little changed on Tuesday as investors focused on Middle East tensions and US rate cut
Oil prices climbed about 3 percent to a one-week high on Friday on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt global crude supplies.
Oil fell for a fourth day on Wednesday as concerns about slowing European demand offset worries about Middle East supply disruptions stemming from the Israel-Hamas conflict in Gaza.
Asian shares hit one-year lows Monday as the risk of a wider conflict in the Middle East clouded sentiment in a week laden with data on U.S. growth and inflation as well as earnings from some of the world's largest tech companies.
By 0613 GMT, Brent crude futures had climbed 67 cents to $74.85 a barrel, while US West Texas Intermediate (WTI) futures rose 73 cents to $70.10 a barrel. On Monday, Brent had climbed 0.5 per cent and the WTI 0.3 per cent.
Oiling hair is a common cultural practice in Bangladesh. We have seen our parents do it, we have seen our siblings do it, and now that we are of age, we do it too because it is essential to keep our hair healthy. Oiling is great for scalp and overall hair nourishment.
The Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association today said it will take action against the dealers if their involvement is found in creating an edible oil crisis.
