Oil Mixed on Chinese Demand Concerns, U.S. Rate Cut Uncertainties Oil prices were mixed amid concerns over slowing demand in China and uncertainties around the timing of U.S. interest-rate cuts. Brent crude was up 0.1% at $82.18 a barrel, while WTI was flat at $78.01 a barrel. Chinese consumer prices rose modestly in February, supported by a temporary holiday spending boost, but the producer-price index fell for the 17th month in a row. All eyes are now on U.S. CPI data due on Tuesday for signals about the path of rate cuts, after Fed Chairman Jerome Powell said policymakers need time to assess whether price pressures have been tamed enough to start cutting rates. Meanwhile, monthly reports from OPEC and…
Published Date: 2024-03-11
Source: Barrons
Categories: Business, Investing, Stocks and Bonds, Agriculture and Forestry, Marketplaces
