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Crude Oil Dropped On Concern About Slow Demand In China.
Crude oil prices closed marginally lower by -0.25%, settling at 6443, driven by concerns over sluggish demand in China. Despite this, geopolitical tensions in the Middle East and Russia tempered the decline. Federal Reserve Chair Jerome Powell’s indication of potential interest rate adjustments contributed to a positive global growth outlook, supporting energy demand. TC Energy Corp.’s confirmation of the Keystone pipeline’s integrity, following a brief halt with no crude oil leakage, eased immediate supply concerns.
