Oil prices experienced fluctuations this week, with WTI crude futures initially rising near $78 a barrel and Brent crude above $82. However, prices slipped due to concerns over U.S. economic growth and ample crude supply. The U.S. Federal Reserve's decision to hold off on cutting interest rates contributed to the decline. Brent crude futures fell 14 cents to $82.46 a barrel, while WTI crude futures dropped 16 cents to $78.34. By the end of the week, Brent crude futures were down 43 cents to $82.17 a barrel, and WTI fell 46 cents to $78.04. The market also reacted to a bearish increase in U.S. stockpiles and a cautious outlook on the Fed's rate cut decision. Despite the mid-week dip, oil prices were on track for a weekly gain due to a positive demand outlook. WTI settled at USD 78.45/bbl.
WTI settled at USD 78.45/bbl #oott
#Oil Prices Surge on Positive Demand Outlook https://t.co/hElMxpOxrL
Oil prices set for best week in two months on demand outlook - Reuters https://t.co/FpylXQMOUZ
Oil prices on track for weekly gain on solid demand outlook https://t.co/znvujdqjBd https://t.co/OxQQaxVwa2
"Brent dropped below $82 a barrel, on track to snap four straight days of gains. "WTI was below $78." https://t.co/H2G9UiYvsN #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities https://t.co/SeMyKXx1Vh
OIL PRICES FELL AT THE OPEN IN ASIA DUE TO RISK-OFF SENTIMENT IN FINANCIAL MARKETS AND SIGNS OF STRONG GLOBAL SUPPLY, WITH WTI DROPPING 1.1% TO BELOW $78 A BARREL.
WTI settled at USD 78.62/bbl #oott
WTI spot price of $74.65 was about -$2.50 less than the marginal price of $77 for the week ending June 7 #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities https://t.co/O8hHNKza9i
Oil prices fall after bearish increase in U.S. stockpiles, cautious Fed rate cut outlook https://t.co/4nauLea6l0
Oil softens on Fed rate decision, ample supply outlook - Reuters https://t.co/VLtdTWYXTf
"In the Fed's view this is the price that needs to be paid to achieve a soft landing and avoid recession beyond doubt." --Tamas Varga, PVM Brent crude futures was down 43 cents, or 0.5%, to $82.17 a barrel by 0902 GMT. WTI fell 46 cents, or 0.6%, to $78.04.… https://t.co/lJGWdRxL5A
Oil prices slip on Fed rate decision, ample supply outlook https://t.co/dyLL3HNopF
#Oil prices slipped due to concerns about a potential delay in interest rate cut by the Federal Reserve till December, coupled with reports indicating robust #US crude oil and fuel inventories.
Oil slips on US growth worries, ample crude supply #ARYNews https://t.co/Gc6kYI2Hqx
Brent crude futures lost 14 cents, or 0.17%, to $82.46 a barrel at 0039 GMT WTI crude futures fell 16 cents, or 0.2%, to hit $78.34 https://t.co/St1r8SPcsy #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #commodities https://t.co/tgR9ly2Tsx
Oil slips on US growth worries, ample crude supply https://t.co/JRlbKSpAwx https://t.co/NMAsHgtORP
🛢️ OIL SLIPS ON US GROWTH WORRIES, AMPLE CRUDE SUPPLY Full Story → https://t.co/pvLGxwyyzq Oil prices fell in early trade on Wednesday as investors digested news that the U.S. Federal Reserve has opted against cutting interest rates in the near future, while ample U.S. crude… https://t.co/RuHiYhO67g
OIL PRICES STEADIED AFTER A THREE-DAY RISE, WITH WTI NEAR $78 A BARREL AND BRENT ABOVE $82, DUE TO AN UNEXPECTED INCREASE IN U.S. CRUDE STOCKPILES.