Key Points
Brent crude futures dipped 20 cents, 0.3%, to $76.76 a barrel as of 0228 GMT..
Oil prices fell in early Asian trade on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging nearly 3% in the previous session on optimism over U.S. fuel demand..
A sharp plunge in U.S. gasoline inventories due to demand surging to the highest levels since 2021, and optimism surrounding negotiations over the U.S. debt ceiling, helped the main crude benchmarks settle more than $2 higher on Wednesday...
President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal governments $31.4 trillion debt ceiling and avoid an economically catastrophic default..
The strength of April economic data in the U.S., in addition to improving optimism about the debt ceiling negotiations and the health of regional banking stocks overnight have strengthened market expectations of a further hike, ANZ Reesearch said in a note on Thursday...
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