Oil Prices Edge Lower With Investors Cautious Ahead of US Data

Pump jacks of Wintershall DEA are pictured in Emlichheim near the northern German city of Meppen, Germany, on March 9, 2022. Fabian Bimmer/Reuters

Oil prices dipped slightly on Wednesday after sharp moves earlier in the week, with investors cautious about the U.S. economy amid supply disruptions from persistent tensions in the Red Sea.

Brent crude fell 39 cents to $75.50 a barrel by 1056 GMT, while U.S. West Texas Intermediate crude futures slipped 51 cents to $69.87 a barrel.