Oil Prices ๐ Settle Up On Supply Shocks, Prospect Of U.S. Interest ๐ Rate Cuts ๐ ========== Oil ๐ prices rose ๐ by $1 ๐ฅ per barrel on September 17, 2024; U.S. crude futures increased by $1.10 ๐ฅ (1.6%) to $71.41; Brent crude futures gained 95 cents (1.3%) ๐ฏ to ๐ $73.70; Over ๐ฏ 12% ๐ of U.S. Gulf of Mexico crude output offline due ๐ค to Hurricane Francine; Hezbollah threatens retaliation ๐ against Israel after detonations ๐ in Lebanon; Libyan ๐ฏ crude exports rose to 550,000 barrels per day ๐ฏ but still below last month's 1 million ๐ bpd; ๐ค Fed funds futures ๐ indicate a 69% chance of ๐ฏ a ๐ฅ 50 basis point rate cut; China's ๐ oil imports ๐ approaching 11 ๐ฅ million bpd; ๐ U.S. Energy Information Administration's report due September 18, 2024. ๐ฏ #OilPrices #SupplyDisruptions #InterestRates #HurricaneFrancine #Hezbollah #Libya #China #UsFederalReserve ๐ #CrudeOil #MarketAnalysis ๐ https://www.businesstoday.com.my/2024/09/18/oil-prices-settle-up-on-supply-shocks-prospect-of-u-s-interest-rate-cuts/
Oddbean new post about login | logout