Oil falls 3%, extends losses after US inflation data

Tuesday, 12 December 2023
Oil fell 3% on Tuesday, with Brent crude hitting the lowest since June after US consumer prices rose in November, offering more evidence that the Federal Reserve was unlikely to pivot to interest rate cuts early next year. The CPI report added to downward pressure earlier coming from concern over excess supply and slowing demand, despite support from escalating supply risks in the Middle East after an attack by the Iran-aligned Houthis on a tanker.

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Asian markets mixed after US inflation data as Fed decision looms

US inflation report tempers expectations for interest rate cut; Federal Reserve's policy statement awaited. Wall Street ends positively as consumer prices slow,...
IndiaTimes on December 13, 2023

Oil falls 3%, extends losses after US inflation data

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Asian markets mixed after US inflation data as Fed decision looms