Jul 10, 02:00 AM

Oil prices rise on US inventory drop and Fed rate cut outlook in latest market update

Oil prices rose as indications of another inventory decrease in the US outweighed uncertainties regarding the Federal Reserve interest-rate cuts following Chair Jerome Powell's testimony. The rebound was driven by a drop in US stockpiles and the likelihood of a drawdown in inventory.

#US #Federal Reserve #Jerome Powell

Written with ChatGPT (GPT-3).

Sources

The Globe and Mail@globeandmail
2 years ago
Oil prices edge higher on likely U.S. inventory drawdown https://t.co/iZ34xTpPpy
🇪🇺 🇲🇨🇨🇭Dan Popescu 🇫🇷🇮🇹🇷🇴@PopescuCo
2 years ago
Oil edges higher on likely US inventory drawdown https://t.co/LDk6A4rqeb via @Reuters
🇪🇺 🇲🇨🇨🇭Dan Popescu 🇫🇷🇮🇹🇷🇴@PopescuCo
2 years ago
Oil rebounds as US stockpiles drop, interest rate cut outlook brightens https://t.co/LDk6A4rqeb via @Reuters

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Oil prices rise on US inventory drop and Fed rate cut outlook in latest market update

Sources

Additional media

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