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Oil drops 0.7% ahead of U.S. inflation data
May 9th, 2023 - 10:23 GMT

Oil drops 0.7% ahead of US inflation data

ALBAWABA – Oil prices fell 0.7 percent on Tuesday for both Brent and U.S. West Texas Intermediate (WTI) crudes, according to Reuters. The oil market worldwide is seeing a decline ahead of U.S. inflation figures, which is key to predicting the Federal Reserve Board’s (Fed) next step in terms of interest rates. Brent crude dropped $0.54 on the barrel to $76.47 and WTI crude fell $0.5 to $72.66, news outlets ...
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