Oil rises on rate cut hopes, higher margins; poised for third weekly gain

Quick Summary:

Capping gains was cautiousness on fluctuations in the US dollar, which is at a two-month high, and political uncertainty in France that have a knock-on effect on oil demand.

Growing expectations of an imminent Fed easing cycle have sparked a risk rally across stock markets.

Brent and WTI futures have gained nearly 2% so far this week, with both benchmarks also on track for gains of slightly more than 6% month on month.

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Article Details

Category: InvestingFinance

Markets: MalaysiaFranceSingapore

Topics: Refining Brent Barrel Futures August Expectations Rose Margins Crude Prices Gains

Source Website Secure: No (HTTP)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 08:40:07 (5 days ago)

News Timezone: GMT +8:00

News Source URL: theedgemarkets.com

Language: English

Article Length: 433 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Edge Markets

News ID: 21412046

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About The Edge Markets

Main Topics: InvestingFinance

Official Website: theedgemarkets.com

Year Established: 1994

Headquarters: Malaysia

News Last Updated: 5 days ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #17

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