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Home Business Oil ends week higher as investors take stock of Fed rate cuts 21-09-2024 01:43 PM Ammon News - Oil prices settled lower on Friday but recorded a second straight week of gains, garnering support from a U.S. interest rate cut and a dip in U.S. supply. Brent futures settled down 39 cents, or 0.52%, at $74.49 a barrel. U.S. WTI crude futures settled down 3 cents, or 0.4%, to $71.92. Signs of a slowing economy in major commodity consumer China gave prices a ceiling. But for the week, both benchmarks settled up more than 4%. Prices have recovered after Brent fell below $69 for the first time in nearly three years on Sept. 10. Prices rose more than 1% on Thursday, a day after the U.S. central bank's decision to cut interest rates by half a percentage point. Reuters

Home Business

Oil ends week higher as investors take stock of Fed rate cuts

21-09-2024 01:43 PM

Ammon News - Oil prices settled lower on Friday but recorded a second straight week of gains, garnering support from a U.S. interest rate cut and a dip in U.S. supply.

Brent futures settled down 39 cents, or 0.52%, at $74.49 a barrel. U.S. WTI crude futures settled down 3 cents, or 0.4%, to $71.92.
Signs of a slowing economy in major commodity consumer China gave prices a ceiling. But for the week, both benchmarks settled up more than 4%.

Prices have recovered after Brent fell below $69 for the first time in nearly three years on Sept. 10.

Prices rose more than 1% on Thursday, a day after the U.S. central bank's decision to cut interest rates by half a percentage point.

Reuters

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