Reported 4 months ago
Oil prices remained stable as investors awaited U.S. inflation data to gauge demand outlook before turning focus to the upcoming OPEC+ meeting. Brent futures were slightly up at $82.00 a barrel, while WTI crude was down at $77.87. Brent futures are set for a monthly loss of nearly 7% after a surprise build in U.S. fuel inventories, despite a deeper draw in crude oil stocks. The market is also watching for the U.S. inflation data release and the OPEC+ meeting on Sunday, where discussions are ongoing about extending oil production cuts into 2025, potentially leading to a rise in oil prices.
Source: YAHOO