Oil flat as cautious investors await Fed meet, US CPI data
Oil prices were steady on Tuesday, as investors waited for key U.S. and China CPI data as well as the outcome of the Federal Reserve's policy meeting to glean a clearer picture of where inflation is heading and how that will affect fuel demand.
Brent crude futures fell 5 cents, or 0.06%, to $81.58 per barrel by 0817 GMT and U.S. West Texas Intermediate crude futures slipped 1 cent, or 0.01%, to $77.73.
Prices had climbed about 3% to a one-week high on Monday, buoyed by expectations that the Northern Hemisphere summer vacation season will boost fuel demand this summer, a gain some analysts said was likely to be short-lived given the prospect of higher interest rates remained.
Reuters
Oil prices were steady on Tuesday, as investors waited for key U.S. and China CPI data as well as the outcome of the Federal Reserve's policy meeting to glean a clearer picture of where inflation is heading and how that will affect fuel demand.
Brent crude futures fell 5 cents, or 0.06%, to $81.58 per barrel by 0817 GMT and U.S. West Texas Intermediate crude futures slipped 1 cent, or 0.01%, to $77.73.
Prices had climbed about 3% to a one-week high on Monday, buoyed by expectations that the Northern Hemisphere summer vacation season will boost fuel demand this summer, a gain some analysts said was likely to be short-lived given the prospect of higher interest rates remained.
Reuters
Oil prices were steady on Tuesday, as investors waited for key U.S. and China CPI data as well as the outcome of the Federal Reserve's policy meeting to glean a clearer picture of where inflation is heading and how that will affect fuel demand.
Brent crude futures fell 5 cents, or 0.06%, to $81.58 per barrel by 0817 GMT and U.S. West Texas Intermediate crude futures slipped 1 cent, or 0.01%, to $77.73.
Prices had climbed about 3% to a one-week high on Monday, buoyed by expectations that the Northern Hemisphere summer vacation season will boost fuel demand this summer, a gain some analysts said was likely to be short-lived given the prospect of higher interest rates remained.
Reuters
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Oil flat as cautious investors await Fed meet, US CPI data
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