Oddbean

Oil prices set to end week higher after US rate cut ========== Brent futures trading at US$73.69 a barrel, down 0.3% on Friday; gained 4.3% this week; U.S. crude at US$72.01 a barrel, up 6 cents, with weekly gains of 4.8%; U.S. central bank cut interest rates by 0.5% on September 18, 2024; crude inventories in the U.S. fell to a one-year low; counter-seasonal oil market deficit of 400,000 bpd expected to support prices in $70-$75 range; rising tensions in the Middle East affecting prices; weak demand from China's economy impacting market. #OilPrices #UsRateCut #BrentFutures #CrudeOil #EconomicImpact #MiddleEastTensions #ChinaEconomy #MarketTrends #InterestRates #GlobalStockpiles https://www.nst.com.my/business/economy/2024/09/1108060/oil-prices-set-end-week-higher-after-us-rate-cut