Summary
- Global oil markets experienced a downturn due to concerns about sustained high interest rates in the United States.
- Brent crude futures fell 1% while West Texas Intermediate for June delivery dropped 0.7%.
- In the US, inflation impact is felt at fuel stations, with gas prices dropping despite approaching Memorial Day.
- Oil market remains sensitive to macroeconomic indicators, geopolitical dynamics, and OPEC’s production adjustments.
