Oil down with market uncertain over US inflation, employment data

Brent futures, which have risen nearly 6% this week, were down 33 cents, or -0.42%, at $78.94 a barrel at 0630 GMT. U.S. West Texas Intermediate crude fell by 22 cents, or -0.3%, to $74.15, having gained about 8% this week.

Markets are now waiting for U.S. spending and inflation data on Friday and the resulting impact on the U.S. dollar. "The market may maintain its rebound if today’s U.S. PCE offers positive signals to the markets that US inflation is expected to cool further," said Tina Teng, an analyst at CMC Markets in Auckland.Prices have ticked up this week over optimism surrounding China's economic recovery.

Tell that to my local station because they were at 2.99 on Tuesday Wednesday it was back up to 3.11.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why Biden’s oil policies upset both oil companies and environmentalistsAnalysis: Willow's estimated annual production is about one-half of 1 percent of U.S. onshore oil production last year. But to environmental advocates, Willow is much bigger than that. Your disgraced president But made Ben & Jerry ecstatic Promises made, promises broken. Anyone who voted for this clown should take a break from voting in 2024
Source: washingtonpost - 🏆 95. / 72 Read more »

Asian Stock Market: Central bankers, China probe bulls as yields swirl higherAsian equities remain depressed even as Australia, New Zealand and South Korea print gains during early Thursday. That said, the stock markets in Chin
Source: FXStreetNews - 🏆 14. / 72 Read more »