Oil prices slip as robust supply outweighs Fed cut
HOUSTON (Reuters) -Oil prices dropped on Friday as worries about large supplies and declining demand outweighed expectations that the year’s first interest-rate cut by the U.S. Federal Reserve would trigger more consumption.
Brent crude futures were down 97 cents, or 1.44%, at $66.47 a barrel by 10:42 a.m. CDT (1542 GMT), while U.S. West Texas Intermediate futures lost 72 cents, or 1.13%, to $62.85.
