U.S. Federal Reserve

Oil surges more than 1% in five days, continues gaining streak for second week; brent crude at $79/bbl

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Oil surges more than 1% in five days, continues gaining streak for second week; brent crude at $79/bbl

Oil prices closed lower on Friday but posted a second consecutive weekly gain as investors considered factors such as potential supply disruptions in the Middle East and the effects of Hurricane Milton on fuel demand in Florida. Brent crude futures fell 36 cents, or 0.45%, to settle at $79.04 per barrel, while U.S. West Texas … Read more

Oil prices drop as investors react to Biden’s exit, focus on Fed rate cuts; brent crude at $81.95/bbl

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Oil prices drop as investors react to Biden’s exit, focus on Fed rate cuts; brent crude at $81.95/bbl

Oil prices declined on Monday following President Joe Biden’s announcement that he would not pursue a second term, while investors speculated about potential U.S. interest rate cuts as early as September. By 1327 GMT, Brent crude futures had decreased by 68 cents, or 0.82%, to $81.95 per barrel. U.S. West Texas Intermediate crude futures dropped … Read more