{"id":584395,"date":"2023-06-14T12:09:12","date_gmt":"2023-06-14T06:39:12","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=584395"},"modified":"2023-06-14T12:09:12","modified_gmt":"2023-06-14T06:39:12","slug":"crude-oil-steadies-as-market-awaits-us-federal-reserve-rate-outlook","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crude-oil-steadies-as-market-awaits-us-federal-reserve-rate-outlook\/","title":{"rendered":"Crude oil steadies as market awaits US Federal Reserve rate outlook"},"content":{"rendered":"<p>Oil prices inched up slightly in Asian morning trade on Wednesday as investors awaited the outcome of the U.S. Federal Reserve\u2018s June meeting, key economic data from China and government data on U.S. crude stockpiles. Brent crude futures were up 9 cents, or 0.1%, at $74.38 a barrel by 0340 GMT. U.S. West Texas Intermediate (WTI) crude was at $69.43 a barrel, up 1 cent.<\/p>\n<p>Both benchmarks climbed more than 3% on Tuesday on hopes of rising fuel demand after China\u2018s central bank lowered a short-term lending rate. \u201cIt seems that the short-term hot monies (speculators) are hesitant to bid prices higher due to impending key data and events such as China\u2019s industrial production, retail sales, and the housing price index for May due tomorrow, as well as today FOMC\u2019s latest dot-plot projections,\u201d said Kelvin Wong, a senior market analyst at OANDA in Singapore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices inched up slightly in Asian morning trade on Wednesday as investors awaited the outcome of the U.S. Federal Reserve\u2018s June meeting, key economic data from China and government data on U.S. crude stockpiles. Brent crude futures were up 9 cents, or 0.1%, at $74.38 a barrel by 0340 GMT. U.S. West Texas Intermediate (WTI) crude was at $69.43 a barrel, up 1 cent. Both benchmarks climbed more than 3% on Tuesday on hopes of rising fuel demand after China\u2018s central bank lowered a short-term lending rate. \u201cIt seems that the short-term hot monies (speculators) are hesitant to bid [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-584395","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/584395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=584395"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/584395\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=584395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=584395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=584395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}