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Oil prices remained steady on Friday, influenced by a stronger dollar following expected U.S. inflation growth in July.
Despite a seventh straight week of gains, prices trimmed weekly advances due to inflation data. Expectations of unchanged interest rates in September emerged, but the robust readings suggest rates could stay elevated for longer.
The strengthening dollar pressured oil prices, while concerns over China’s economic conditions and U.S. interest rates tempered market optimism. Brent oil steadied at $86.41/barrel, WTI rose slightly to $82.90/barrel.
Both contracts poised to add 0.4% for the week, trading near yearly highs.
SHREE METAL PRICES
