2023-06-15 01:43:28
Oil prices rose on Thursday, recouping some of the losses incurred the day before on worries regarding a future US interest rate hike, as markets now look forward to important Chinese economic data for demand indicators.
Brent crude futures rose 21 cents, or 0.3 percent, to $73.41 a barrel by 00:09 GMT.
US West Texas Intermediate crude was $68.50 a barrel, up 23 cents, or 0.4 percent.
The benchmark fell 1.5 percent on Wednesday following the US Federal Reserve expected more interest rate hikes this year, raising fears that higher interest rates might slow the economy and lower demand for oil.
Higher interest rates also support a rally in the dollar, making commodities denominated in the greenback more expensive for holders of other currencies.
The dollar rose 0.5 percent once morest a basket of currencies in early trading on Thursday.
1686797467
#Oil #rising #markets #await #important #Chinese #economic #data