U.S. crude oil posts third weekly decline as China demand raises concerns
Publishing timestamp: 2024-07-26 15:10:39
Summary
Oil prices fell this week due to surprise rate cuts in China, raising concerns about demand. U.S. economy grew stronger than expected, but oil imports to China were down. Year to date, U.S. oil has gained 7.7% while global benchmark is ahead 5.3%. Surprise rate cuts in China raised concerns about Chinese energy demand.
Sentiment: MIXED
Tickers: @RB.1, @CL.1, @NG.1, @LCO.1,
Keywords: oil and gas, wti crude (mar'23), natural gas (mar'23), ice brent crude (apr'23), rbob gas (mar'23), markets, breaking news: markets, business news, investment strategy,
Source: https://www.cnbc.com/2024/07/26/crude-oil-prices-today.html