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Oil edged lower on Tuesday in a rangebound market as attention turns toward the upcoming OPEC+ meeting that will set the group’s supply policy. Brent futures traded around US$83 a barrel, while West Texas Intermediate was a little under $80. Futures have been in a narrow range, with implied volatility near lows last seen in 2019 according to one measure, ...
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Oil prices continued to decrease on Tuesday due to the cautious stance of Fed officials despite the recent softening of inflation. This has raised concerns that US interest rates may remain elevated for an extended period. The prices of Brent crude and WTI futures have both decreased by almost 2% from yesterday, with Brent crude trading at $83.11 per barrel ...