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: iran, oil and gas, government and politics, markets, ice brent crude (apr'23), rbob gas (mar'23), joe biden, united states, helima croft, investment strategy, natural gas (mar'23), business news, breaking news: markets, wti crude (mar'23),
Source: https://www.cnbc.com/2024/04/23/crude-oil-prices-today.html