Oil pares gains after hitting 2024-high over delayed US Fed rate cuts; Brent down to $82/bbl

News Snapshot:

Oil prices slipped on Thursday, March 7 as expectations that US interest rate cuts could be delayed capped gains, though upbeat Chinese trade data augured well for demand in the world's top oil importer. Brent crude futures were down 58 cents or 0.7 per cent to $82.38 a barrel, while US West Texas Intermediate crude futures inched down 67 cents or 0.8 per cent to $78.46 a barrel, according to news agency Reuters. Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a March 19 expiry, was last trading 1.26 per cent lower at ₹6,517 per...