Oil prices rose for the fourth day on Tuesday on the back of expectations that the US Federal Reserve would this week cut interest rates for the first time in more than 10 years.
The cut should support economic growth and drive growth in the US.
Brent crude is up 33 cents or 0.5%, to $64.04/bbl as per Investing.com data. US crude is up 30 cents or 0.5% as well, at $57.17/bbl.
The cut should support economic growth and drive growth in the US.
Brent crude is up 33 cents or 0.5%, to $64.04/bbl as per Investing.com data. US crude is up 30 cents or 0.5% as well, at $57.17/bbl.
US central bankers will begin their two-day meet later today.
Economic growth in the US slowed less than expected in the second quarter of 2019, improving the outlook for oil consumption, however, economic data was bleak in Asia and Europe which has kept growth worries intact.
Economic growth in the US slowed less than expected in the second quarter of 2019, improving the outlook for oil consumption, however, economic data was bleak in Asia and Europe which has kept growth worries intact.
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