Oil held a decline as traders weighed the impact of the Federal Reserve's interest-rate cut, alongside warnings of mounting US labor market weakness.
West Texas Intermediate held steady at $64.13 a barrel, after falling 0.7% the previous day. Brent closed 0.8% lower on Wednesday, as traders had mostly priced in the 25 basis-point cut ahead of the Fed's decision and unwound hedges against a larger reduction.
The decline cooled a three-session rally following concerns over oil flows amid Ukraine's attacks on Russian refineries, while oil markets are expected to face oversupply toward the end of the year.
Source: Bloomberg
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