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MarketWatch MarketPulseJan 27, 2023
: U.S. oil prices settle at their lowest in more than week
Oil futures ended with a loss on Friday, with U.S. benchmark prices under $80 to settle at their lowest in more than a week. U.S. crude prices had a "little tug-of-war around the $80 a barrel level" until the market knows more about China's reopening momentum, what the Federal Reserve will do to the economy, and what OPEC will decide to do with production quotas, said Edward Moya, senior market analyst at OANDA. U.S. benchmark West Texas Intermediate crude for March delivery CLH23 declined by $1.33, or 1.6%, to settle at $79.68 a barrel on the New York Mercantile Exchange, the lowest front-month contract finish since Jan. 18, according to Dow Jones Market Data.

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