Economics

Oil Prices Climb on Middle East Tensions and Anticipated US Rate Cuts

  • August 27, 2024

Crude oil prices have seen an uptick at the start of this week, following a previous week of losses, as escalating violence in the Middle East stokes concerns over supply. Additionally, signals from the US Federal Reserve hinting at possible interest rate cuts next month have influenced market movements. Brent crude was trading above $79

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Economics

Oil Prices Drop Amid US Recession Concerns and Middle East Tensions

  • August 6, 2024

Oil prices fell on Monday as worries about a potential US recession, the world’s largest oil consumer, outweighed concerns over escalating tensions in the Middle East that could disrupt supply from the major producing region. Brent crude futures decreased by 4 cents, or 0.1%, settling at $76.77 per barrel. Meanwhile, US West Texas Intermediate (WTI)

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