Oil futures lost ground Friday, but remained on track for a weekly rise as fears of a sharp global economic slowdown eased.
Price action Market drivers The energy complex was in bounce mode after WTI fell more than 9% last week and Brent dropped 8.7%, with crude finding a footing after last Friday’s strong U.S. jobs report and inflation data this week that showed price pressures moderating. That was boosting hopes that the Federal Reserve wouldn’t need to raise rates as aggressively as feared, potentially leaving room for policymakers to rein in still red-hot inflation without sending the economy into recession.
Ease? 🤣🤣🤣🤣
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