Reported 1 day ago
Oil prices stabilized after a significant gain, buoyed by easing US inflation which improved market sentiment. West Texas Intermediate remained below $68 per barrel after a 2.2% rise, while Brent crude approached $71. Although consumer prices increased at their slowest rate in four months, concerns about a trade war potentially raising costs for consumer goods loom ahead. Production from OPEC and its allies surged last month, with Kazakhstan agreeing to cut its output despite earlier breaches of production caps.
Source: YAHOO