Reported about 2 hours ago
Oil prices remained stable on Thursday after the Federal Reserve's anticipated interest rate cut. Brent crude futures dipped slightly by 0.12% to $67.87, while U.S. West Texas Intermediate fell 0.16% to $63.95. The Fed's decision to lower borrowing costs aims to boost demand amid economic uncertainties, particularly in the jobs market. Despite a significant drop in U.S. crude stockpiles, a rise in distillate inventories raised concerns regarding demand, putting pressure on prices.
Source: YAHOO