Oil surges ahead of inflation data after lacklustre week; brent crude at $82.88/bbl
Oil records longest losing streak in 5 months on hawkish US Fed policy, demand worries; Brent down 2% at $82/bbl“Oil prices have started the session slightly higher, but moves are expected to be in range as the U.S. and U.K.
markets close today. However, in the week ahead, prices could see high volatility with the focus on the U.S.
fuel demand during the current summer driving season, U.S. oil inventory data due on Wednesday, and the OPEC+ members meeting on 2nd June, where they are expected to roll-over current output cuts till year-end," said Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd.Also read: Gold and silver prices today on 27-05-2024: Check latest rates in your city Milestone Alert!
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