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Oil rises on signs of strong demand and rate cut hopes

LONDON :Oil rose on Wednesday, supported by signs of strong global demand including from top consumer the United States while hopes that the Federal Reserve might start cutting rates soon also buoyed sentiment despite somewhat sticky U.S. inflation.In an indication of healthy demand, U.S. crude oil and fuel i
City Of United Kingdom United States Tamas Varga Yeap Jun Rong Federal Reserve

Oil Rises on Signs of Strong Demand, Rate Cut Hopes

Oil rose on Wednesday, supported by signs of strong global demand including from top consumer the United States while hopes that the Federal Reserve might start cutting rates soon also buoyed sentiment despite somewhat sticky US inflation. In an indication of healthy demand, US crude oil and fuel inventories fell last week, according to market sources citing American Petroleum Institute figures ahead of Wednesday's official US inventory report.
United States Tamas Varga Yeap Jun Rong International Energy Agency Organization Of The Petroleum Exporting Countries On Federal Reserve
Source: aawsat.com

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