Oil prices steady on mixed crude demand signals

Quick Summary:

Oil prices steadied on Thursday as investors wrestled with mixed signals about crude demand, with concerns about an economic slowdown in the US contending with rising expectations the Federal Reserve would soon cut interest rates.

Economic growth in China, which is the biggest importer of crude oil, also weighed on prices.

US economic activity expanded at a slight to modest pace from late May through early July, with firms expecting slower growth ahead, according to a report released by the Fed on Wednesday.

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Category: EconomyBusiness

Markets: MalaysiaChina

Topics: /Business/ Commodities FedRateCuts OPECPlus EconomicSlowdown CrudeDemand USEconomy WTICrude BrentCrude OilPrices

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-19 @ 07:08:00 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 527 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © The Star

News ID: 21678528

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