Oil may feel Brunt of Negative U.S. Data

Benchmark U.S. crude prices may record their fourth weekly loss as negative economic data hurts fuel demand, according to CNBC’s latest market survey of traders, analysts and strategists.

Many poll respondents doubted that the Federal Reserve’s two-day policy meeting this week will help lift prices dramatically because oil markets were now more attuned to bearish supply fundamentals, particularly within the U.S.

The Fed is expected to keep its monetary stimulus program in place when it meets on Tuesday and Wednesday.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.