Oil Prices Hit Two-Week Highs at $63.84 Amid Fed Rate Cut Expectations
Oil prices reached a two-week high at $63.84/barrel due to investor anticipation of a US Federal Reserve interest rate cut to boost economic growth and energy demand. Geopolitical risks from Russian and Venezuelan supplies, as well as uncertainties in Ukraine and US-Russia relations, are influencing the market.
US President Donald Trump's efforts to end the war and release oil supplies are impacting oil price dynamics. Analysts foresee potential downside risks from ceasefire breaches and upside risks from Russia's oil infrastructure damage.
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