Crude oil outlook amid FOMC and geopolitical tensions
pre-market1 source ↓written by the desknot a recommendation
- mark due
- $60
- barrels
- +2.8 million
- barrels
- 426.9 million
Crude oil prices remain near the $60 mark due to ongoing geopolitical tensions, particularly the stalled Russia-Ukraine peace negotiations. The FOMC's sentiment is influencing market direction, with expectations of Fed rate cuts boosting commodities and currencies.
• U.S. crude inventories increased from –3.4 million to +2.8 million barrels, totaling 426.9 million barrels.
As winter demand approaches, sanctions on Russian oil output are resurfacing, maintaining supply risks and market tension.
Not investment advice. For informational purposes only.