Oil Holds Near Three-Month Low as Market Shows Signs of Weakness

-- Oil traded near lowest level in over three months as the market flashed signs of weakness ahead of the US summer driving season.Brent crude was little changed near $81 a barrel, while West Texas Intermediate held below $77. Both benchmarks are set for a weekly loss. The Memorial Day weekend is typically seen as the start of the peak driving period in the US and investors will be watching to gauge the demand outlook.

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Oil price news: Oil trades near 3-month low on rising stocks and hawkish FedOil steadied near the lowest closing level in three months as traders weighed rising U.S. crude stockpiles and signs that the U.S. Federal Reserve may hold interest rates higher for longer.
Source: BNNBloomberg - 🏆 83. / 50 Read more »