From Yahoo Finance: 2024-06-11 11:34:20

Oil prices have been volatile as traders await market reports and the Federal Reserve’s interest-rate decision. Prices nearly hit $78 a barrel, recovering from recent losses. OPEC+ clarified it could adjust supply changes if necessary. Analysts predict short-term price recovery but anticipate weakening supply/demand balances. The EIA and IEA will release energy reports this week. Oil prices have trended downwards since April due to concerns over demand and non-OPEC supply increases. OPEC maintains expectations of stronger demand in the second half of the year. Traders are also waiting for the Federal Reserve’s interest-rate decision, as the US economy remains robust with high inflation.



Read more at Yahoo Finance: Oil Fluctuates Ahead of US Market Outlook Reports, Fed Decision