Reported 3 months ago
Oil prices remained stable near a seven-week low due to worries about demand, particularly from China, the largest importer. Brent crude hovered below $80 per barrel after a recent decline, while West Texas Intermediate traded around $76. Despite modest gains for the year, mainly driven by OPEC+ supply cuts and lower US borrowing costs, analysts have downgraded growth forecasts for Asia's biggest economy. Traders await upcoming reports on US stockpiles and interest rate decisions from the Federal Reserve.
Source: YAHOO