Key Points
SINGAPORE (Reuters) Oil prices were little changed on Tuesday as investors focused on geopolitical tensions in the Middle East and optimism the U.S. Federal Reserve would soon start cutting interest rates, lifting global economic growth and fuel demand...
Brent crude futures fell 26 cents, or 0.3%, to $79.13 a barrel by 0115 GMT while U.S. West Texas Intermediate crude was at $73.59 a barrel, up 3 cents.. Trade is thin as some markets are still closed for the Boxing Day public holiday...
Both benchmarks notched gains of about 3% last week after Houthi attacks on ships disrupted global shipping and trade, adding to tensions in the Middle East as the Israel-Gaza conflict waged on...
Denmarks Maersk said on Sunday it was preparing to resume shipping operations in the Red Sea and the Gulf of Aden, citing the deployment of a U.S.-led military operation designed to ensure the safety of commerce in the area.. Shipping firms had suspended the passage of vessels through the Red Sea that connects with the Suez Canal, which handles about 12% of world trade, and imposed surcharges for re-routing ships...
Oil prices were also buoyed by expectations the Fed would cut interest rates next year after U.S. data released on Friday showed by some key measures inflation was now at or below the central banks 2% target...
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