“Oil prices fell after two sessions of gains as weak economic data weighed on demand.”, — write: www.epravda.com.ua
Oil prices fell after two sessions of gains as weak economic data weighed on demand.
About this informs Reuters.
Brent crude futures for November fell 49 cents, or 0.7%, to $73.21 a barrel. US oil futures for October fell 50 cents, or 0.7%, to $70.69 a barrel.
Prices are said to have received some support from the risk of increased violence in the oil-producing Middle East.
Hezbollah vowed revenge against Israel after pagers were detonated across Lebanon on Tuesday, killing at least eight people and injuring around 3,000, including militants and Iran’s ambassador to Beirut.
Traders continue to bet that the Fed will begin an expected streak of interest rate cuts by cutting them by half a percentage point, and those expectations could put pressure on central bankers to deliver.
We will remind:
Oil is growing on concerns about production in the US, a reduction in oil reserves is expected.