Posted 3/11/2024, 2:17:00 AM
Oil Prices Decline for Third Day as Investors Eye Inflation Data, Demand Uncertainties
- WTI crude futures fell toward $77 per barrel on Monday, extending losses for the third straight session
- Investors turned cautious ahead of key US inflation data and monthly reports from OPEC and IEA
- WTI prices dropped 2.45% last week as demand uncertainties outweighed extended OPEC+ supply cuts
- China's oil imports fell 5.7% year-over-year in the first two months of 2021
- Major oil producers extended current production cuts through Q2 while ceasefire talks between Israel and Hamas saw little progress