# Oil prices steady as investors await inflation data, OPEC+ meeting

> Oil prices were steady in early Asian trading on Tuesday as investors awaited US inflation data and the OPEC+ meeting on June 2. Brent August and WTI July contracts traded near $83 and $78.7 respectively.

- Date: 2024-06-01 · published 2024-06-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/30416-oil-prices-steady-as-investors-await-inflation-data-opec-meeting
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Traders are pricing the timing of US rate cuts and possible OPEC+ extensions of output cuts, both of which set the energy cost backdrop for feed production and freight.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Sources

- cnbc.com: https://www.cnbc.com/2024/05/28/oil-prices-steady-as-investors-await-inflation-data-opec-meeting.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.