Crude oil prices began the week with a decline on signs of slowing fuel demand and yet more indications from the Fed that rate cuts are not coming soon. Brent was trading below $83 per barrel and West Texas Intermediate was a little above $78 a barrel earlier today after shedding 1% on Friday, after the EIA reported builds in gasoline and distillate inventories and analysts reiterated expectations about delays in rate cuts.
The EIA reported modest increases in gasoline and middle distillate stocks for the week to May 3, with gasoline…Fuel Demand Slowdown and Interest Rate Pessimism Weigh on Oil Prices
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