TELETRADER News
11/13/2023, 9:35 AM (Source: TeleTrader)
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Oil slips 1% on demand woes

The prices of oil futures declined on Monday as worries about the global economic outlook seemingly affected the demand for crude.

Investors are still on edge about the Federal Reserve's next interest rate steps, as Chair Jerome Powell continued to insist that it is still not clear whether the current monetary policy is restrictive enough.

WTI for deliveries in December slid 1.01% at 3:24 am ET and went for $76.38 per barrel. A minute later, Brent for January 2024 settlements lost 1.04% to sell for $80.57 per barrel.

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