Oil steadies after weekly decline on U.S. interest rate prospects

LONDON, May 27 - Oil prices were little changed on Monday, making marginal advances in muted trade owing to public holidays in Britain and United States after a downbeat week characterised by the outlook for U.S. interest rates in the face of sticky inflation.

"Sentiment in the oil complex ... has been skittish as investors are constantly recalibrating expectations for the Federal Reserve’s monetary policy trajectory," said Vandana Hari, founder of oil market analysis provider Vanda Insights. The U.S. personal consumption expenditures index expected this week will be in the spotlight for further signals about interest rate policy. The index, due to be released on May 31, is viewed as the U.S. Federal Reserve's preferred measure of inflation.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil price news: Oil drifts to February lows amid physical weakness, stock slumpOil slipped as broader investment sentiment soured and traders weighed signs of a weakening physical market ahead of the start of the US summer driving season.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Oil price news: oil sinks as Fed minutes weigh down equity marketsOil fell after signs the Federal Reserve may hold interest rates higher for longer spurred a selloff in equities.
Source: BNNBloomberg - 🏆 83. / 50 Read more »