Oil price news: Oil swings as market awaits fresh signals on supply and demand
BNN Bloomberg
Oil fluctuated on Monday as traders await fresh clues about global supply and demand balances.
Oil fluctuated on Monday as traders await fresh clues about global supply and demand balances.
Brent traded above US$81 a barrel after shedding more than 2 per cent last week, with West Texas Intermediate near $76. Participants at International Energy Week in London, a major industry gathering, are set to weigh the outlook for oil this week, while U.S. inflation data will shape expectations for when the Federal Reserve will start cutting interest rates.
In wider markets, a gauge of the U.S. currency was steady, while most other commodities including copper were weaker.
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