Key Points
HOUSTON (Reuters) -Oil prices retreated slightly on Wednesday after the Federal Reserve maintained its position on holding back on U.S. interest rate cuts in the near-future, while growing U.S. crude stockpiles added further pressure...
If this trend continues for the next six to eight weeks, we could see gasoline inventories tighten up as we go into the driving season, said Andrew Lipow, president of Lipow Oil Associates in Houston...
Reports on Tuesday that the Organization of the Petroleum Exporting Countries and allies led by Russia (OPEC+) will consider extending voluntary oil output cuts into the second quarter likely provided a floor to falling prices...
Federal Reserve Bank of New York President John Williams said that while inflation pressures have ebbed to a notable degree, he is not yet ready to say the central bank has done all it needs to do to get inflation back to the Feds 2% target...
Players in the oil market will be looking for clearer direction from Thursdays January U.S. personal consumption expenditures (PCE) price index, the Feds preferred measure of inflation and a key factor in rate decisions...
