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0 News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/oil-prices-slip-amid-chinese-demand-concerns-and-fed-rate-decision-outlook/
Crude oil futures declined as investors reassessed recent gains, driven by concerns over weakening demand from China and anticipation of the U.S. Federal Reserve’s upcoming interest rate decision.
Following a rally last week, prices came under pressure due to profit-taking and disappointing Chinese economic data, particularly a slowdown in consumer spending despite stronger industrial output. The bearish sentiment reflected market caution, with traders wary that sluggish demand from China could hinder the potential for further price increases in the near term.
Market participants are also closely monitoring the U.S. Federal Reserve’s policy meeting, with a quarter-point rate cut widely expected.
The outcome could provide clearer guidance on the Fed’s future policy direction, especially regarding potential rate cuts in 2025. Investors are also weighing whether the central bank will adjust its approach in light of inflationary pressures under the incoming administration.
A rate cut could support economic growth and boost oil demand, fostering a more positive outlook for crude prices. However, ongoing uncertainties about global demand and the pace of rate cuts may keep oil prices range-bound in the short term.
News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/oil-prices-slip-amid-chinese-demand-concerns-and-fed-rate-decision-outlook/
