Oil prices dip as US economic concerns outweigh Fed rate cut
NEW YORK (Reuters) – Oil prices eased on Thursday as traders focused more on concerns about the U.S. economy than the start of looser monetary policy after the U.S. Federal Reserve cut interest rates for the first time this year.
Brent crude futures fell 63 cents, or 0.9%, to $67.32 a barrel at 1:14 p.m. EDT (1714 GMT), while U.S. West Texas Intermediate (WTI) crude fell 66 cents, or 1.0%, to $63.39.
