Oil prices rise again after an announcement from the US Federal Reserve

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Oil prices increased during trading as the market expressed optimism about the US Federal Reserve considering a potential reduction in interest rates three times in 2024. As of 09:25 Moscow time, US crude futures, known as “West Texas Intermediate,” were trading at $71.67 per barrel, representing a 0.13% increase from the previous closing price.

Global Brent crude futures contracts were traded at $76.73 per barrel, reflecting a 0.16% increase from the previous settlement price.

In yesterday’s trading, oil prices rose by about 3% to their highest levels since December 5. US crude closed at $71.58 per barrel, while Brent crude ended trading at $76.61.