Oil steady as markets weigh Fed rate cut expectations, Chinese demand
- Posted on December 21, 2024
- By Business News Today
- 2 Views
Oil steady as markets weigh Fed rate cut expectations, Chinese demand
Oil prices saw minimal change on Friday as markets assessed Chinese demand and interest rate cut expectations following cooler U.S. inflation data. Brent crude futures and WTI futures both experienced slight increases, yet ended the week down. A weaker dollar and potential rate cuts could boost demand, while concerns linger over China's peaking oil consumption and OPEC+'s demand outlook revisions.