U.S. crude oil falls below $82 a barrel after disappointing inflation, manufacturing data

U.S. crude oil prices fell below $82 a barrel due to disappointing inflation and manufacturing data, signaling potential interest rate hikes by the Federal Reserve. This economic uncertainty, combined with geopolitical tensions involving a potential Israeli offensive in Gaza, influenced market dynamics. Despite initial gains from ceasefire hopes in Gaza, oil prices dropped as traders anticipated a stronger dollar and lower demand.