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Oil Bounces Off Lows as Traders Weigh Red Sea Risks, Fedspeak.
In: Bloomberg.com, 2024-02-05, S. N.PAG
Online
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Zugriff:
Oil prices have rebounded from a three-week low as traders consider geopolitical risks and comments from Federal Reserve Chair Jerome Powell. The price of West Texas Intermediate rose above $72 a barrel, supported by equity market recoveries and increased US attacks on Yemen's Houthis. However, ample supplies have tempered the geopolitical risk premium in crude. The risk appetite in broader markets weakened after Powell suggested that rate cuts may be delayed, and the strengthening dollar has made commodities less attractive. Crude prices fell last week due to talks of a pause in the Israel-Hamas war, and a fire at a Russian refinery and the shutdown of a US refinery have also impacted refining capacity. [Extracted from the article]
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Oil Bounces Off Lows as Traders Weigh Red Sea Risks, Fedspeak.
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Autor/in / Beteiligte Person: | Fanzeres, Julia |
Zeitschrift: | Bloomberg.com, 2024-02-05, S. N.PAG |
Veröffentlichung: | 2024 |
Medientyp: | serialPeriodical |
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