💨 Abstract

Oil prices declined 1% on Wednesday, reversing a three-day gain, due to increasing U.S. crude stockpiles and hawkish comments from Fed Chair Jerome Powell suggesting slower rate cuts this year. Brent and WTI futures fell 0.87% and 1.02% respectively. The drop follows a 3.6% and 3.7% increase in the previous days.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖