Oil Prices Spike as US Inflation Concerns Ease and Geopolitical Tensions Rise Oil prices surged as recent US data revisions indicated that inflation pressures are decreasing, sparking optimism that the Federal Reserve may lower interest rates later this year. The price of West Texas Intermediate oil climbed above $77 a barrel, driven by a mix of factors including the S&P 500 hitting new highs, increased geopolitical risks, and technical trading patterns. Additionally, shipping companies have raised alarms about worsening security in the Red Sea. The combination of these factors, along with tighter fuel markets as shown by rising refining margins, has contributed to oil’s price rise. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts THE SILVER BREAKOUT: Off To $48? Triple Digits? READ MORE Silver: "It’s Time To BUCKLEUP" READ MORE Fed Chair Powell Stresses Patience on Rate Cuts Amid Inflation Battle READ MORE "I've Been Warning About THIS For a YEAR, Well Here It Is" Decoding the Banking Sector Plunge READ MORE Growing Credit Card Debt: A Warning Sign for Investors READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment
