Oil Prices Dip as Russian Port Resumes Operations

Oil prices experienced a dip today as Novorossiysk port resumed operations, easing concerns about supply disruptions. Both Brent and WTI futures saw slight drops, with Brent falling to $82.16 and WTI to $77.65. The market also awaits clues from the Federal Reserve on future interest rate hikes, which could impact oil demand. Additionally, unexpected inventory build-up in the U.S. contributed to the bearish sentiment, with traders expecting continued price fluctuations.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.