7 months Oil prices rise as market eyes likely Fed rate cut MB |Biz
By Reuters LONDON – Oil prices rose for a fourth day on Tuesday on optimism the US Federal Reserve will this week cut interest rates for the first time in more than 10 years, supporting fuel consumption in the world’s biggest oil user. A pump jack operates in the Permian Basin oil production area near Wink, Texas US August 22, 2018.(REUTERS / Nick Oxford / File Photo / MANILA BULLETIN) Brent crude LCOc1 rose 56 cents to $64.27 a barrel by 0906 GMT. It is set for a monthly fall of more than 3%, however, due to lingering worries about ... more