Oil Slips as Fed Rate-Cut Outlook Fuels Demand Worries

Oil Slips as Fed Rate-Cut Outlook Fuels Demand Worries

Oil prices were retreating from the previous trading session after the Federal Reserve signaled fewer interest-rate cuts next year, fueling demand concerns.

Brent crude and WTI were both down 0.1% at $73.35 and $69.95 a barrel, respectively.

Futures gained 1% on Wednesday after the latest U.S. inventory data showed crude oil stocks fell on higher exports, indicating an uptick in global demand.

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