Oil prices slip on expectations that U.S. rate cuts could be delayed

News Snapshot:

Oil prices slipped on Thursday as expectations that U.S. 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 slipped 42 cents or 0.5 per cent to $82.54 a barrel by 1010 GMT, while U.S. West Texas Intermediate crude futures inched down 36 cents or 0.4 per cent to $78.77 a barrel. Markets were bracing for a risk that the U.S. Federal Reserve could delay its first interest rate cut to the second half of this year in a boost to the U.S. dollar,...