Now Reading
Oil Prices Hold Steady Amid Economic Concerns Despite Red Sea Worries

Oil Prices Hold Steady Amid Economic Concerns Despite Red Sea Worries

Oil prices stabilised in early Asian trade on Wednesday after sharp moves earlier in the week, as markets weighed concerns about the U.S. economy and potential supply disruptions from ongoing tensions in the Red Sea.

However, the market fell in the previous session as market optimism about early and aggressive U.S. interest rate cuts ebbed ahead of the release of Federal Reserve minutes and jobs data.

Data from the American Petroleum Institute industry group is due at 4:30 p.m. (2130 GMT) on Wednesday, and data from the Energy Information Administration, the statistical arm of the U.S. Department of Energy, is due at 11:00 a.m. (1600 GMT) on Thursday, delayed by a day due to the New Year’s holiday on Monday.

Reuters

SUBSCRIBE TO GET OUR NEWSLETTERS:

See Also

SUBSCRIBE TO GET OUR NEWSLETTERS:

Scroll To Top

We have detected that you are using AdBlock Plus or other adblocking software which is causing you to not be able to view 360 Mozambique in its entirety.

Please add www.360mozambique.com to your adblocker’s whitelist or disable it by refreshing afterwards so you can view the site.