Key Points
NEW YORK (Reuters) -Oil prices edged lower on Tuesday as cooling expectations of interest rate cuts pushed the dollar to a one-month high and forecasters predicted weather in U.S. production hubs will turn warmer-than-normal later this month...
U.S. markets were closed for a public holiday on Monday.. Global benchmark Brent Crude futures fell 19 cents, or 0.2%, from Mondays settlement to $77.96 a barrel..
Weighing on oil prices, the U.S. dollar hit a one-month high as investors dialed back expectations of an interest rate cut by the Federal Reserve in March..
Oil prices drew support from signs of escalating tensions in the Middle East, as the U.S. military carried out a new strike in Yemen against four Houthi anti-ship ballistic missiles...
Tensions in the Middle East are rising so the geopolitical risk premium in oil prices should be rising as well, said Rob Thummel, managing director at energy investment firm Tortoise Capital...
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