Oil remained largely unchanged for the third consecutive session
The earlier bullish sentiment is curbed by the rather delicate global economic state coupled with the dwindling labour market witnessed in the US causing renewed concerns over slow economic progress.
The international benchmarks for crude oil once again settled on a largely stable note on Thursday, 6 April 2023 – marking the third consecutive day of such movement as markets continue getting acclimatized with the production cuts targeted by OPEC+. The earlier bullish sentiment is curbed by the rather delicate global economic state coupled with the dwindling labour market witnessed in the US causing renewed concerns over slow economic progress.
Brent crude settled 13 cents higher or 0.2% at $85.12 a barrel while West Texas Intermediate U.S. crude climbed 9 cents, 0.1% higher at $80.70.