Reported 3 days ago
Oil prices fell early on Thursday after the U.S. Federal Reserve indicated a slower pace of interest rate cuts for 2025, raising concerns about fuel demand. Brent crude fell to $73.06 and West Texas Intermediate dropped to $70.22, reversing gains from the previous day. The Fed's projection of only two rate cuts next year, amid persistent inflation, weighed on market sentiment despite a recent decline in U.S. crude stocks.
Source: YAHOO