London December 17 2024: Oil prices eased further on Tuesday as China’s economic data renewed demand concerns, while investors remained cautious ahead of the U.S. Federal Reserve’s interest rate decision.
U.S. West Texas Intermediate crude was down 11 cents at $70.60 a barrel at 0409 GMT, while Brent crude futures fell 6 cents to $73.85 a barrel.
Prices were “weighed on by profit-taking after last week’s 6% rally and a batch of disappointing Chinese economic data yesterday,” IG market analyst Tony Sycamore said.
