03 Nov, 23

Oil Prices Rise On Fed Decision And Geopolitical Risk

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Thursday’s Market Action Reflects Fed’s Rate Move Oil markets witnessed notable activity on Thursday, directly responding to the Federal Reserve’s stance on interest rates. Brent crude futures rallied by $2.22, clocking a 2.6% gain to close at $86.85 per barrel. U.S. West Texas Intermediate (WTI) futures weren’t far behind, pushing up by $2.23 or 2.8% to wrap up the day at $82.67 per barrel. However, traders are keeping a close eye on December futures. Despite the day’s bullish move, the potential for a weekly loss remains. Central…

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