Oil steady after surprise dip in US crude stocks offsets demand fears

Oil prices held on to most of the previous day's gains in early trade on Thursday as markets weighed an unexpected draw in U.S. crude oil stocks against the prospect of weaker demand after the Federal Reserve chairman hinted at further interest rate hikes.

The benchmarks had gained a dollar a barrel in the previous session as U.S. corn and soybean prices raced to multi-month highs, raising expectations that crop shortfalls around the globe could lower biofuels blending and increase oil demand. Official inventory data from the U.S. Energy Information Administration is due later on Thursday. The report was delayed by a day following the Juneteenth public holiday on Monday.

Higher interest rates ultimately increase borrowing costs for consumers, which could slow economic growth and reduce oil demand.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Asia stocks slip as suspense builds for China, Fed newsSYDNEY : Asian stocks were subdued on Wednesday as a lack of new stimulus steps from Beijing frustrated investors, who were also wondering just how hawkish the world's most powerful central banker would chose to be later in the session.Federal Reserve Chair Jerome Powell faces lawmakers in two days of tes
แหล่ง: ChannelNewsAsia - 🏆 6. / 66 อ่านเพิ่มเติม »