Oil prices hold firm, on pace for weekly gain, as inflation appears to ease in U.S.
Publishing timestamp: 2024-06-13 10:47:00
Summary
Oil prices are holding firm this week after encouraging inflation reports, with analysts expecting the market to tighten through the third quarter before loosening into surplus in 2025. The Fed's potential interest rate cut could boost the economy and crude oil demand, but surprise oil stockpile builds and soft fuel demand are impacting the market. Analysts see the oil market tightening at least through the third quarter before becoming surplus next year.
Sentiment: NEUTRAL
Tickers: @CL.1, @LCO.1, %40RB.1?QSEARCHTERM=%40RB, @NG.1,
Keywords: united states, breaking news: markets, natural gas (mar'23), investment strategy, wti crude (mar'23), oil and gas, ice brent crude (apr'23), business news, markets,
Source: https://www.cnbc.com/2024/06/13/crude-oil-prices-today.html