Oil prices mixed ahead of China lending benchmarks decision

China's widely expected decision to cut key lending benchmarks in an effort to support its slow-growing economy weighed on market sentiment, with oil prices mixed on Tuesday. Brent crude remained stable at $76.12 a barrel, while West Texas Intermediate was unchanged at $71.29. With no settlement in the US due to a public holiday, markets lacked direction and liquidity. Demand could potentially be further reduced if US policymakers increase rates or if Russia increases seaborne diesel and gasoil exports, outweighing any previous cuts by the Organization of the Petroleum Exporting Countries.

Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.