11 March 2024
Oil prices remained relatively stable, with Western Texas Intermediate futures slightly declining to close just below $78 per barrel, after experiencing the lowest intraday price in two weeks. This cautious market movement comes as investors await US inflation data, which, if higher than anticipated, could complicate the Federal Reserve’s monetary policy decisions. Additionally, key oil market reports from the International Energy Agency (IEA), the Organization of the Petroleum Exporting Countries (OPEC), and the US are expected to be released this week, potentially influencing future oil price trajectories.