Crude oil steadies after tumbling almost 6% on rising demand risks – Daily Market Update- Equity 05 Oct 2023
Oil steadied after signs of weakening demand and concerns about a slowdown in global growth sparked the steepest one-day plunge in more than a year. West Texas Intermediate traded near $84 a barrel after sinking 5.6% on Wednesday. The drop came after official US data showed the weakest seasonal demand for gasoline in 25 years and a small build in crude holdings.