Brent crude for September delivery was up 76 cents, or 0.77 percent, at $99.86 a barrel by early 0929 GMT, and West Texas Intermediate crude futures were up 28 cents, or 0.29 percent, at $96.06 a barrel.
The most dovish monetary policymakers at the Federal Reserve (US central bank) said on Thursday, July 14th that they are leaning towards another 75 basis point increase in interest rates at the central bank’s fiscal policy conference in July, not a big one. After the report was released on Wednesday, July 13, dealers quickly braced for inflation.
Uncertainty over rising interest rates and weak economic reports pushed both contracts down at least five dollars on Thursday, July 14, below their closing levels on February 23, a day ahead of the Russian conflict over Ukraine.
Legal disclaimer: MENA Financial Services Network provides information “as is” without any representations or warranties. . For any inquiries regarding the use and reuse of this information source, please contact the article provider above.
“Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator.”
Al-Ansari raises the stake of individual investors to 56.2 million shares
Deutsche Bank: Falling share price raises concerns among investors again
Deutsche Bank shares fell 9% after a sudden rise in insurance costs against default