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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Oil Prices Rebound Amid Interest Rate Cut Expectations


Wed 10 Jul 2024 | 12:29 PM
By Ahmad El-Assasy

Oil prices rebounded on Wednesday after three days of declines, driven by a report showing a drop in U.S. crude and fuel inventories last week, indicating stable demand. Expectations of interest rate cuts also bolstered the market.

Brent crude futures rose by 21 cents to $84.87 a barrel by 0055 GMT, following a 1.3% drop in the previous session. U.S. West Texas Intermediate (WTI) crude increased by 26 cents to $81.67 a barrel, after a 1.1% decline in the previous session.