"The price stability of WTI crude oil at around $70.74 is crucial as traders await the Federal Reserve's final decision on interest rates, which greatly influences global markets, including oil markets."
"Concerns over global demand growth, particularly in China, have emerged as retail sales growth slowed, raising doubts about its ability to boost crude oil demand moving forward."
"The anticipated 25 basis point rate cut by the Fed could strengthen the U.S. dollar, potentially decreasing oil's appeal as an investment, leading traders to adopt a cautious stance."
"Geopolitical factors such as sanctions on oil producers like Russia and Iran may continue to support oil prices by restricting global crude supply amidst market uncertainties."
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