Oil Prices Rebound Amid Fed Rate Cut Hopes and OPEC+ Decisions
TL;DR Summary
Oil prices rose on Thursday, driven by expectations of a U.S. Federal Reserve interest rate cut in September, despite being tempered by OPEC+'s plan to increase supply and higher U.S. inventories. While oil benchmarks recovered after recent declines, prices are still set for a weekly drop of about 3%. The market remains cautious amid mixed signals on demand and supply adjustments from OPEC+ and Saudi Arabia's price cuts for July crude.
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