Free Trial

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

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.