Oil prices drop as Middle East tensions ease, market sentiment shifts to fundamentals and macroeconomics
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#12d86ea3 ver:1.36

Oil prices held near a three-week low on Thursday as investors weighed mixed US economic data, US sanctions on Venezuela and Iran, and easing tensions in the Middle East. Brent crude futures fell 18 cents, or 0.2%, to settle at $87.11 a barrel, while US West Texas Intermediate (WTI) crude rose 4 cents, or 0.1%, to settle at $82.73. The drop in US diesel futures to their lowest since the start of January cut the diesel crack spread, which measures refining profit margins, to its lowest since April 2023. The number of Americans filing new claims for unemployment benefits was unchanged at a low level last week, indicating continued labor market strength. Existing US home sales fell in March as higher interest rates and house prices sidelined buyers from the market. Lower interest rates could ...

#newstr #OilPrices #MiddleEastTensions #MarketSentiment #Fundamentals #Macroeconomics 

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