• 17/07/2024 14:51

Oil prices rose amid positive inflation news in the US

Oil prices rose on the backdrop of positive news about inflation in the United States and US preparations for resolving the conflict in the Middle East. This was reported by Reuters.

Oil prices rose amid positive news about inflation in the United States

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It is noted that futures for grade oil Brent rose by $0.31 to $77.90 per barrel, while futures for US West Texas Intermediate crude rose by $0.43 to $72.62.

“Although the minutes of the Fed meeting did not contain direct With no indication of when interest rates could begin to be cut, the discussions reflected a sense that inflation was under control, as well as increasing concerns about the risks that “overly restrictive” monetary policy could pose to the economy, the report said. p>

In addition, the proposal is also concerned about events in the Middle East, where Israeli troops are planning a more targeted approach in the north of their country and further persecution of Hamas leaders in the south.

To resolve the conflict, US Secretary of State Antony Blinken On January 4, he traveled to the Middle East for a week of diplomatic talks.

According to the US Energy Information Administration, gasoline inventories last week showed their highest weekly increase in the last 30 years, while supplies of distillates, which are indicator of demand, fell to the lowest level since 1999.

However, the bearish data was offset by geopolitical concerns, hopes for an economic recovery after a possible cut in interest rates and ongoing problems in shipping.

minfin.com.ua

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