Reported about 2 months ago
Oil prices remain near their lowest levels since January, with Brent crude trading around $76 a barrel as fears of a slowing US economy overshadowed the impact of decreasing inventories. Despite a drop in crude stockpiles, concerns about weakened consumption in both the US and China have led to a loss of all year-to-date gains. As traders await insights from Federal Reserve Chair Jerome Powell's upcoming speech, analysts note that geopolitical risks and potential weather disruptions may offer a buying opportunity around $75 a barrel.
Source: YAHOO