Oil prices settle at 7-week low on China worries

Quick Summary:

Oil prices slid about 1% to settle at a seven-week low on Tuesday as investors worried that demand from China could be weakening while Opec+ seems likely to stick to plans to increase supplies.

The Fed is expected hold its benchmark overnight interest rate steady at its July 30-31 meeting and signal that rate cuts may begin as soon as the central bank's September meeting.

US West Texas Intermediate (WTI) crude fell US$1.08, or 1.4%, to US$74.73.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaIsraelLebanonVenezuela

Topics: USFed OilPrices GazaCeasefire Commodities OPEC WTICrude BrentCrude /Business/ VenezuelaSanctions ChinaEconomy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 07:13:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 578 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21863852

View Article Analysis

About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 43 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 32 minutes ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

Publisher Details

Frequently Asked Questions