Category: Forex News, News
Natural Gas and Oil Forecast: U.S. Crude Stocks Fall by 4.4M, NG Hits $2.18
Market Overview
Oil prices remained steady on Wednesday, with Brent crude hovering near a one-month low of $83.30 hit on Tuesday. This stability comes as weakening demand growth in China contrasts with the expected decline in U.S. oil stockpiles.
Concerns over Chinese demand weigh on sentiment, but U.S. inventory drawdowns help limit the downside. China’s economic growth slowed to 4.7% in Q2, its weakest since early 2023.
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