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Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What's cooling down the commodity?

Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What's cooling down the commodity?

Oil prices extended losses on Friday, May 3, 2024 and stayed on course for the steepest weekly loss in three months, as investors weighed lower-than-expected US jobs data and the timing of interest rate cuts by the US Federal Reserve.  Brent crude futur...

5 months ago
Oil crawls back towards 7-week low-mark after US Fed keeps rates at 23-year high; Brent at $83/bbl

Oil crawls back towards 7-week low-mark after US Fed keeps rates at 23-year high; Brent at $83/bbl

Oil edged back towards the previous day's seven-week low-mark on Thursday, May 2, paring earlier gains, after US data pointed to persistent labour market strength which further diminished hopes of early decline in US interest rates. Brent crude futures...

5 months ago