Oil set for weekly loss on uncertainty around Fed rate cuts, China demand fears

Quick Summary:

SINGAPORE: Oil prices fell on Friday as investors weighed signs demand in top crude importer China continues to underperform amid the country's uneven economic recovery and expectations of fewer Federal Reserve rate cuts.

Oil prices also fell this week as major forecasters indicated market fundamentals remained bearish.

The prospect of higher supplies from the U.S.and OPEC+ along with doubts over China's economic recovery also continue to be of concern, Yeap added.

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Category: EconomyBusiness

Markets: MalaysiaChinaIndiaSingapore

Topics: WTI OPEC Brent /Business/Business News Energy

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Article Type: News Report

Published On: 2024-11-15 @ 16:33:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

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