2024-12-19 16:29
IndustryOil Pares Gains as Fed Outlook Lifts USD
Oil prices rose on strong U.S. crude exports (+1.8M bbl) and a 4th straight stockpile draw, but gains faded as the Fed's cautious 2025 outlook boosted the USD. WTI settled below $71, while Brent closed above $73.
Kazakhstan's pledge to comply with OPEC+ quotas eased oversupply fears, while rising exports and a 3.18M-bbl distillate draw signaled stronger global demand. But a stronger dollar may limit further oil gains, especially with concerns over sluggish Chinese demand and robust U.S. production.
#Oil #WTI #Brent #CrudeOil #OPEC
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Oil Pares Gains as Fed Outlook Lifts USD
| 2024-12-19 16:29Oil prices rose on strong U.S. crude exports (+1.8M bbl) and a 4th straight stockpile draw, but gains faded as the Fed's cautious 2025 outlook boosted the USD. WTI settled below $71, while Brent closed above $73.
Kazakhstan's pledge to comply with OPEC+ quotas eased oversupply fears, while rising exports and a 3.18M-bbl distillate draw signaled stronger global demand. But a stronger dollar may limit further oil gains, especially with concerns over sluggish Chinese demand and robust U.S. production.
#Oil #WTI #Brent #CrudeOil #OPEC
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