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Libyan Export Decline and Fed Speculation Propel Oil Above 70 Dollars...
17 Sep, 2024 08:00 137 min read
Oil prices rose as Libyan exports slumped and expectations grew that the Federal Reserve would cut interest rates, boosting demand for crude. West Texas Intermediate (WTI) settled above $70 per barrel, while Brent closed near $73. Market focus remains on U.S. Gulf production disruptions and potential rate cuts, despite ongoing concerns about rising non-OPEC output and slowing demand in the U.S. and China.... More