Oil futures are steadying after last week's declines, as investors await expected rate hikes by the Federal Reserve and other central banks
Oil futures traded near unchanged on Monday, steadying after last week’s decline, as investors awaited expected rate hikes by the Federal Reserve and other central banks.
Price actionMarket drivers Crude... Oil futures traded near unchanged on Monday, steadying after last week’s decline, as investors awaited expected rate hikes by the Federal Reserve and other central banks. Price action Market drivers Crude lost ground in rangebound trade last week, with investors continuing to assess the demand outlook following China’s dropping of COVID-19 curbs. Traders also appeared reluctant to press positions ahead of the Wednesday meeting of the OPEC+ Joint Ministerial Monitoring Committee, which reviews the oil market but has no ability to make official production policy decisions. The next full meeting of OPEC+ members is scheduled for June.
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