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Oil falls as US jobs data dents hope for near-term rate cuts - KITCO

Retrieved on: 2024-02-03 19:18:11

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Oil falls as US jobs data dents hope for near-term rate cuts - KITCO. View article details on HISWAI: https://www.kitco.com/news/off-the-wire/2024-02-02/oil-falls-us-jobs-data-dents-hope-near-term-rate-cuts

Summary

The article discusses the drop in oil prices due to expectations of no immediate interest rate cuts in the U.S., impacting crude demand, alongside high rates in major economies. Additionally, events like U.S. jobs data, tension easing in the Middle East, China's faltering growth, and OPEC+ production cuts contribute to the pricing of Brent Crude and West Texas Intermediate within the global energy crisis and oil market dynamics.

Article found on: www.kitco.com

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