Oil prices dip amid Iran uncertainty, US rate jitters
Investing.com-- Oil prices edged lower in Asian trade on Tuesday, as markets were uncertain how the Iran President’s death could affect supplies, while traders feared that high U.S. interest rates will eat into demand this year.
High rates are expected to potentially chip away at demand, while also limiting money for investment and economic growth, which usually support oil demand.of the Fed’s late-April meeting are due on Wednesday and are expected to provide more cues on the rate outlook. More Fed officials- specifically members of the rate-setting committee- are also set to speak in the coming days.
But the Organization of Petroleum Exporting Countries had maintained its demand forecast, citing strength in top exporter China.
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