Oil Stanches Two-Day Loss as Traders Assess Mixed Growth Signals
- Fuel markets flash signs of weakness as refiner profits slide
- WTI edges above $74 after shedding more than 5% this week
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Oil eked out a gain after a muted session with traders on standby amid mixed economic signals.
West Texas Intermediate inched forward after a two-day loss of more than 5% wiped out all of the gains from OPEC+’s surprise production cut. Oil has been tracking wider markets in recent sessions, as traders parse a slew of economic data in hopes of interpreting the US central bank’s next rate hike decisions.