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Indonesia News Portal for Traders | Financial & Business Updates

19 December 2024 02:40  |

Oil Futures Rise as Fed Cuts

Oil rises as the Fed cuts interest rates as expected and predicts a slower pace of monetary easing next year, while U.S. crude inventories fall less than expected.

Markets are bracing for a prolonged battle against inflation that may put a floor on how much lower the Fed could go, after easing by 25 basis points today. A hawkish Fed could support the dollar and have an impact on energy prices.

WTI for February rises 0.5% to $70.02.

Source: Marketwatch

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