The oil market rollercoasters on Tuesday, buffeted by opposing forces. Concerns about potential interest rate hikes in the United States weighed on the market, while ongoing geopolitical tensions in the Middle East and supply disruptions due to wildfires in Canada provided some countervailing support.
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The US oil industry is facing a slowdown in production growth in 2024, according to a report by the US Energy Information Administration (EIA). The EIA predicts that US crude…