Oil steadied at $54 a barrel on Tuesday as traders balanced an expected rise in U.S. crude inventories and signs of OPEC producers lifting March output with forecasts for lower distillate fuel stocks after a cold snap.
The market held its ground after a slide of over $1 on Monday, when Saudi Arabia's ambassador to the United States said OPEC's largest producer was satisfied with U.S. crude near $50 and as other commodities were also hit by an investor sell-off.
Read Full Article at Reuters South Africa
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment