- Oil prices eased for a fourth straight day on Thursday on worries that U.S. borrowing costs could be hiked again if inflation surged, a move that could hurt oil demand.
Higher interest rates boost borrowing costs, crunching funds that could boost economic growth and oil demand. Globally, physical crude markets have more recently been pressured by soft refinery demand and ample supply. Citi Research said it continues to expect that OPEC+, which groups together OPEC and allies led by Russia, will hold its production cuts through the third quarter of this year when it meets on June 1. Citi continues to see Brent averaging $86 a barrel in the second quarter of 2024.Seeking a reliable income stream for your TFSA? Consider this sustainable high-yielding dividend payer.
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