• Sun, Jan 11, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

19 December 2024 07:12  |

Oil Drops as Dollar Surges After Rate Cut

Oil fell as expectations for fewer interest-rate cuts by the Federal Reserve next year boosted the dollar.

February West Texas Intermediate fell toward $69 a barrel, while Brent crude settled above $73.

Fed officials lowered borrowing costs as expected on Wednesday but curbed the amount of reductions they expect to make through 2025. The dollar strengthened to its strongest level in more than two years, making commodities more expensive for most buyers.

Crude rose on Wednesday after U.S. national inventories fell for a fourth straight week. Futures headed for their narrowest annual price range since 2019, marking an abrupt end to years of bumper swings in the wake of the global pandemic and wars in Ukraine and the Middle East.

Source: Bloomberg

Related News

OIL

Oil Drops as Dollar Surges After Rate Cut

Oil fell as expectations for fewer interest-rate cuts by the Federal Reserve next year boosted the dollar. February West Te...

19 December 2024 07:12
OIL

Oil Prices Down Amid Israel Ceasefire, US Stockpile Drawdow...

Oil prices fell slightly in Asian trade on Wednesday, extending recent losses after Israel agreed to a two-month deal. Bren...

27 November 2024 09:52
OIL

Oil prices rise on geopolitical tensions, OPEC+ supply plan...

Oil prices rose on Wednesday as market participants weighed geopolitical tensions and the prospect of OPEC+ extending supply ...

4 December 2024 13:21
OIL

Oil trims losses on tight near-term supply

Oil prices edged up on Wednesday on signs of near-term supply tightness but remained near their lowest in two weeks a day aft...

13 November 2024 17:49
BIAS23.com NM23 Ai