From Dow Jones & Company: 2025-01-07 05:24:59

Oil prices dipped slightly, likely due to a technical correction and weak global economic news. Brent crude fell 0.4% to $75.96 a barrel, while WTI dropped 0.5% to $73.16 a barrel. Despite this, prices are still supported by colder weather forecasts and concerns over Russian and Iranian supply.

Both benchmarks settled lower after a five-session winning streak. Orders for U.S. manufactured goods declined in November, and German inflation rose above the European Central Bank’s target. Analysts from ING noted that while there has been some tightening in the physical market, fundamentals through 2025 are expected to remain comfortable, capping the upside for crude oil prices.



Read more at Dow Jones & Company: Oil Slips Amid Technical Correction, Weaker Economic Data