Oil prices were little changed today as concerns about interest rates and global demand caused the market to take a break after a strong week last week. “We will again note that global crude supply has yet to be significantly disrupted by the Mideast hostilities and that rerouted oil cargoes around the Red Sea have not significantly reduced global crude supply,” analysts at energy advisory Ritterbusch and Associates said. The New York Fed said its January Survey of Consumer Expectations showed the outlook for inflation a year and five years from now were unchanged, with both remaining above the Fed’s 2% target rate. If inflation worries delay Fed interest rate cuts, that could reduce oil demand by slowing economic growth. WTI traded up $.08 or .1% to close at $76.92. Brent traded down $1.9 or -.2% to close at $82.00.

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stampede
swars
  • Where: Moody Gardens Hotel and Convention Center
  • Attending: Curtis Chandler (239.405.3365) David Cohen (954-729-4774)
  • Conference Website