Oil rises as OPEC maintains strong demand outlook, traders assess U.S. inflation data
Publishing timestamp: 2024-03-12 11:06:34
Summary
Crude oil futures rose as OPEC stuck to demand outlook and traders assessed US inflation data. OPEC forecasts oil demand growth, while US inflation increased. Federal Reserve waiting for more data before cutting interest rates. Oil prices affected by worries about demand in China and production in US. Various companies and indices mentioned in the article.
Sentiment: NEUTRAL
Keywords: wti crude (mar'23), ice brent crude (apr'23), breaking news: markets, investment strategy, business news, markets, oil and gas,
Source: https://www.cnbc.com/2024/03/12/oil-prices-steady-as-traders-evaluate-latest-us-inflation-data.html