Pre. Settlement | N/A |
Settlement date | 2025-03-20 |
Open | 69.35 |
Bid | 0.00 |
Last price | 69.53 |
Day's range | 69.35 - 69.35 |
Volume | |
Ask | 0.00 |
China has a history of under-promising and over-delivering on economic growth, a trend that means there is plenty of upside for oil prices.
Oil prices retreated Thursday, snapping a three-day rally, after a surprise rise in U.S. crude stockpiles and with the Federal Reserve highlighting global growth concerns. By 09:15 ET (13:15 GMT), U.S. crude futures traded 0.2% lower at $70.77 a barrel, while the Brent contract fell 0.2% to $76.57 a barrel. The Fed hiked interest rates as expected on Wednesday, but downgraded its GDP outlook for the year, expecting the U.S. economy to grow 0.4% this year, down from previous expectations of 0.5%.
Oil prices fell on Thursday morning as the market digested Jerome Powell’s latest statement and settled in for two months of oversupply.