Stocks struggled for traction Wednesday and US equity futures made modest gains ahead of a Federal Reserve meeting that’s expected to deliver a hefty interest-rate hike to fight inflation.
Oil, bolstered by a broad-based market rally, rose for a second day as US crude and gasoline stockpiles showed signs of continuing decline ahead of the summer driving season.
(Bloomberg) Oil steadied ahead of an OPEC+ meeting on supply after jumping the most in three weeks as the European Union said it would implement a phased ban on Russian crude.
West Texas Intermediate traded near $108 a barrel after closing up 5.3% on Wednesday.