opec+ decisions and oil prices

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

Oil prices drop as investors react to Biden’s exit, focus on Fed rate cuts; brent crude at .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 …

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Oil extends gains after US inflation data pushes Wall Street to lift Fed rate cut bets; Brent stays above $85/bbl

Oil extends gains after US inflation data pushes Wall Street to lift Fed rate cut bets; Brent stays above /bbl

Crude oil prices extended gains on Thursday, July 11, keeping the Brent crude benchmark above the $85 per barrel-mark, after Wall Street experts lifted bets on interest rate cuts by the US Federal Reserve. This came after US government data showed an unexpected slowdown in consumer price-based (CPI) inflation. Brent crude futures were up 23 …

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