Oil eases ahead of China, US data, but OPEC+ cuts limits slide – Reuters
- Date: 10-Jul-2023
- Source: Reuters
- Sector:Oil & Gas
- Country:Saudi Arabia
Oil eases ahead of China, US data, but OPEC+ cuts limits slide – Reuters
SINGAPORE, July 10 (Reuters) - Oil prices dipped in Asian trade on Monday as investors tread cautiously ahead of fresh economic data from top consumers the United States and China this week, though expected crude supply cuts from Saudi Arabia and Russia limited losses.
Brent crude futures fell 51 cents, or 0.7%, to $77.96 a barrel by 0345 GMT, and U.S. West Texas Intermediate crude was at $73.34 a barrel, down 52 cents, or 0.7%.
"Oil traders may be cautious ahead of the U.S. CPI and China's slew of economic data later this week," CMC Markets analyst Tina Teng said.
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