Oil Steadies on a Potential Pause in US Interest Rate Hikes and Passing Debt Limit Deal

Oil Steadies on a Potential Pause in US Interest Rate Hikes and Passing Debt Limit Deal
Crude oil and grease is seen caked on a pump jack in the Permian Basin in Loving County, Texas on Nov. 25, 2019. Angus Mordant/Reuters
Reuters
Updated:

LONDON—Oil steadied on Thursday on a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill.

U.S. Federal Reserve officials on Wednesday suggested interest rates could be kept on hold this month and the U.S. House of Representatives passed a bill suspending the government’s debt ceiling, improving the chance of averting a disastrous default.