Oil prices eased about 1% on Wednesday on worries over weak U.S. gasoline demand and economic data that could cause the U.S. Federal Reserve to keep interest rates higher for longer.

High interest rates used to tackle lingering inflation can weigh on economic growth and reduce demand for oil.

Brent futures fell 62 cents, or 0.7, to settle at $83.60 a barrel, while U.S. West Texas Intermediate (WIT) crude fell 60 cents, or 0.8%, to settle at $79.23.

At Axi, our mission is to help people like you “Trade Your Edge”. We want day-traders on our platforms to reach their full potential and become confident long-term traders. That’s why we’ve teamed up with trading guru David Belle to give you a daily dose of market insight and wisdom. Each day we’ll delve into the breaking news and geopolitics (the fundamentals) and market indicators (the technicals) to help you trade with more confidence. We’ll cover forex, crypto*, oil and gas, stocks, gold and silver – whatever is moving the markets that day.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage with a high risk of losing money rapidly due to leverage. Axi UK: * 70.8% of retail investor accounts lose money when trading CFDs with this provider.* You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This content should not be construed as investment advice. Past performance is not indicative of future results.
Axi UK: *Cryptocurrency CFDs can only be traded by Professional Clients due to FCA regulations.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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AxiCorp Financial Services Pty Ltd (ACN 127 606 348) is authorised and regulated by the Australian Securities and Investment Commission (ASIC) in Australia with licence no 318232 and the Financial Markets Association (FMA) in New Zealand with licence no 518226. Its website is [ Ссылка ]

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