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U.S. oil rises more than 1% to $83 a barrel as slowing manufacturing raises interest rate cut hopes - TL;DR CNBC

U.S. oil rises more than 1% to $83 a barrel as slowing manufacturing raises interest rate cut hopes

Publishing timestamp: 2024-04-23 12:59:29


Summary

U.S. crude oil prices rose to nearly $83 per barrel on optimism that weak manufacturing data could lead to interest rate cuts. The market largely dismissed the threat of looming Iran oil sanctions. Oil prices turned higher as traders see slowing manufacturing activity as support for Federal Reserve cutting interest rates this year.


Sentiment: MIXED

Tickers: @RB.1@LCO.1@CL.1@NG.1

Keywords: iranoil and gasgovernment and politicsmarketsice brent crude (apr'23)rbob gas (mar'23)joe bidenunited stateshelima croftinvestment strategynatural gas (mar'23)business newsbreaking news: marketswti crude (mar'23)

Source: https://www.cnbc.com/2024/04/23/crude-oil-prices-today.html


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