Western Texas Intermediate (WTI), the US crude oil benchmark, posted losses of 0.95% on Monday as China’s economic woes weighed on oil prices. Uncerta
WTI dropped 0.95% as China’s rate cut and push for increased lending reflect a slowing economy.
US rig count decreases, hinting at potential supply tightening, which could provide a floor for WTI prices in the near term.benchmark, posted losses of 0.95% on Monday as China’s economic woes weighed on oil prices. Uncertainty from the US Federal Reserve direction on rates favors the greenback, a headwind for US Dollar denominated assets. WTI is trading at $80.58, down 0.95%.
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