Crude oil prices remain stable amid mixed signals from the Chinese economy and geopolitical tensions, with potential ceasefire talks in Gaza affecting market reactions.
Chinese economic data revealed industrial production and unemployment rising unexpectedly while retail sales showed growth, complicating the outlook for future oil demand.
Despite easing inflation in the U.S., oil prices declined as market expectations for interest rate changes adjusted, indicating negative sentiment around crude demand.
The urgent ceasefire negotiations in Gaza represent a critical juncture that could stabilize the Middle East and impact global oil market perceptions.
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