# Oil ends lower, posts weekly decline as US rate cut hopes dim | Reuters

> Brent settled down $2.05 at $81.62 and WTI fell $2.12 to $76.49 as traders pared expectations of U.S. rate cuts. Brent declined about 2% and WTI more than 3% over the week.

- Date: 2024-02-23 · published 2024-02-23T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/31838-oil-ends-lower-posts-weekly-decline-as-us-rate-cut-hopes-dim-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weaker energy prices lower diesel and transport costs, though the decline is largely a routine market move driven by rate expectations.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-falls-after-us-fed-governor-says-no-rush-cut-interest-rates-2024-02-23/

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