KONTAN.CO.ID - TOKYO. Oil prices rose on Wednesday on expectations of strong global demand, including in the world's top consumer the United States, and as even somewhat sticky U.S. inflation did not dent expectations the Fed might start cutting rates soon. Brent futures for May delivery were up 36 cents, or 0.44%, at $82.28 a barrel by 0020 GMT. The April U.S. West Texas Intermediate (WTI) crude contract rose 38 cents, or 0.49%, to $77.94. The Organization of the Petroleum Exporting Countries stuck to its forecast of a strong oil demand growth globally of 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025 and raised its economic growth forecast for this year.
Oil Prices Up on Strong US Demand, Fed Signals in Focus
KONTAN.CO.ID - TOKYO. Oil prices rose on Wednesday on expectations of strong global demand, including in the world's top consumer the United States, and as even somewhat sticky U.S. inflation did not dent expectations the Fed might start cutting rates soon. Brent futures for May delivery were up 36 cents, or 0.44%, at $82.28 a barrel by 0020 GMT. The April U.S. West Texas Intermediate (WTI) crude contract rose 38 cents, or 0.49%, to $77.94. The Organization of the Petroleum Exporting Countries stuck to its forecast of a strong oil demand growth globally of 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025 and raised its economic growth forecast for this year.
TAG: