Oil prices remain near 4-month highs as Russia sanctions weighed

Quick Summary:

OIL prices eased on Tuesday but remained near four-month highs as the impact of fresh U.S.sanctions on Russian oil remained the market's key focus.

The stakes are high for Wednesday's figures, where any rise in core inflation greater than the forecast 0.2% would threaten to close the door on further Federal Reserve interest rate cuts this year.

These sanctions have the potential to take as much as 700k b/d of supply off the market, which would erase the surplus that we are expecting for this year.

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Category: EconomyBusiness

Markets: MalaysiaChinaIndia

Topics: Brent /Business/Business News Crude Opec WTI Oil Petroleum Commodities

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-14 @ 13:02:00 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 481 words

Reading Time: 3 minutes read

Sentences: 18 lines

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Copyright Owner: © The Star

News ID: 25143668

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