Reported 23 days ago
Oil prices increased slightly on Monday as expectations of a U.S. interest rate cut loomed, with Brent crude rising 0.2% to $71.76 and U.S. crude up 0.3% to $68.88. However, gains were tempered by the resumption of U.S. oil supply post-Hurricane Francine and disappointing economic data from China, which indicated a slowdown in industrial output and weaker demand for fuel. The market remains focused on potential Fed actions following their upcoming meeting, with indications that a larger rate cut may be anticipated.
Source: YAHOO