Oil prices gain for second day as ECB cuts rates, traders hope for Fed to ease in September
Publishing timestamp: 2024-06-06 12:50:23
Summary
Oil market bouncing back after sell-off triggered by OPEC+ decision to raise production. ECB and Fed rate cuts expected to boost oil demand. Oil prices rose in past two sessions, but still down for the week. Analysts believe market may be overreacting to OPEC+ decision. Goldman sees potential in solar stock and utility stocks. Potential for Chevron to outperform Exxon if issues over Guyana assets are resolved.
Sentiment: MIXED
Tickers: @LCO.1, @NG.1, @CL.1, @RB.1,
Keywords: markets, breaking news: markets, investment strategy, natural gas (mar'23), rbob gas (mar'23), business news, wti crude (mar'23), oil and gas, ice brent crude (apr'23),
Source: https://www.cnbc.com/2024/06/06/crude-oil-prices-today.html