Oil prices steady as US inventory draw offsets rate and inflation concerns
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#12d86ea3 ver:2.53

Oil prices steady as US inventory draw offsets rate and inflation concerns. Brent crude at $83.13/barrel and WTI at $78.73/barrel. Muted global demand and economic uncertainty led to a decline in early May. Lower-than-expected oil demand and discounted Russian oil imports from China and India also contributed. Geopolitical concerns in the Middle East have eased, but worries about the US economy persist. Rising crude oil stockpiles and anticipation of OPEC+ meeting on June 1 for production cuts decision. Strong economic data from China and the US support oil prices. #OilPrices #USInventory #OPEC...

#newstr #OilPrices #UsInventoryDraw #InterestRates #Inflation #Opec+ 

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