Oddbean

Oil edges up following US rate cut move, geopolitical concerns ========== Oil prices increased slightly on September 23, 2024, due to concerns over Middle East conflicts affecting supply and expectations from the U.S. interest rate cut the previous week. Brent crude futures rose by 20 cents to US$74.69 a barrel, while U.S. crude futures increased by 22 cents to US$71.22. The U.S. Federal Reserve cut interest rates by half a percentage point on September 18, 2024, which analysts believe may support demand despite worries about a slowing job market. The ongoing conflict between Israel and Iranian-backed militias has raised concerns about further escalation in the region, impacting oil supply. #Oil #UsFederalReserve #MiddleEast #BrentCrude #GeopoliticalConcerns #InterestRates #HurricaneFrancine #MarketAnalysis #EnergyDemand #Conflict https://www.nst.com.my/business/economy/2024/09/1109416/oil-edges-following-us-rate-cut-move-geopolitical-concerns