Oil prices steadied on Wednesday on expectations for higher demand as the U.S. dollar weakened and a report showed U.S. crude and gasoline inventories fell, but longer term, demand in developed countries was seen flagging this year.
Oil prices continued to trade in a fairly narrow range ahead of U.S. PPI data and Fed Chair Jerome Powell's speech later on Tuesday. Brent crude and WTI were both flat at $83.37 and $79.14 a barrel, respectively.
FXEmpire.com - Oil Prices and Influencing Factors. Oil prices are currently facing a slight decline on Tuesday as traders anticipate key economic indicators and updates from the O
Oil prices edged lower on Tuesday, after U.S. data suggested inflation remains sticky, while OPEC maintained its demand forecast for the year. Brent crude futures fell 55 cents to $82.81 a barrel at 1339 GMT,
Oil prices were little changed on Tuesday as investors waited on data this week, including U.S. inflation indicators and a monthly report from the Organization of the Petroleum Exporting Countries. Brent crude futures fell 18 cents to $83.