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Oil steady after surprise dip in U.S. crude stocks offsets demand fears

Oil prices held on to most of the previous day's gains in early trade on Thursday as markets weighed an unexpected draw in U.S. crude oil stocks against the prospect of weaker demand after the Federal Reserve chairman hinted at further interest rate hikes. Brent futures slipped 8 cents, or 0.1%, to $77.04 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 5 cents, or 0.1%, at $72.48 at 0015 GMT. The benchmarks had gained a dollar a barrel in the previous session as...
United States Jerome Powell Sonali Paul Arathy Somasekhar American Petroleum Institute Federal Reserve
Source: yahoo.com

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