Brent Crude Stalls Near $82.72 as Traders Await US Fed's Interest Rate Clue
Signs of tighter supplies and Chinese economic support buoy oil prices, while Western data adds to uncertainty
Production Cuts Aim to Boost Prices, but Global Uncertainty Impedes Crude Oil's Recove
Traders and investors have been on edge as they closely monitor the decisions of central banks and geopolitical developments to get clues about possible market direction.
Oil Markets Set to Tighten in the Second Half of the Year
The nation's rig count rose by 7.7% to 14 in June 2023, an indication that the sector has started growing across the board following President Tinubu's...
The September WTI crude oil was also up 28 cents to $74.36.
President Tinubu's Fuel Subsidy Removal Sees New Players Enter the Market
Brent crude falls 1.7% while US West Texas Intermediate sheds 1.6% due to Chinese economic slowdown
Inflation was already well off its highs but there was something about this report that was different