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Potential Fed Cuts Support Oil Markets

OIL

Oil markets are making a recovery on Thursday supported by US Fed rate cut signals and more stimulus measures for the Chinese property sector.

  • Powell said that interest rates had peaked and would move lower in the coming months but declined to promise that rate cuts would come as soon as the Fed's March 19-20 meeting.
  • Houthi rebels have maintained attacks on ships passing the Bab-el Mandeb strait, forcing oil and oil product cargoes on the longer journey around the Cape of Good Hope.
  • The US struck further Houthi targets Wednesday while the US response towards Iran after the strike in Jordan at the weekend remains unclear – leaving oil markets tense.
  • Brent APR 24 up 0.7% at 81.15$/bbl
  • WTI MAR 24 up 0.8% at 76.48$/bbl
Energy BulletsCommodities
Energy BulletsCommodities

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