Oil ticks higher as traders await Fed decision, inventory data
Portfolio Pulse from
Oil futures saw a modest rise as traders anticipate a Federal Reserve rate cut and await official data on crude and product inventories. This follows consecutive losses in oil prices.
December 18, 2024 | 12:45 pm
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POSITIVE IMPACT
BNO, an ETF tracking Brent crude oil, may see a slight positive impact as oil futures rise in anticipation of a Federal Reserve rate cut and upcoming inventory data.
The rise in oil futures is likely to positively impact BNO, which tracks Brent crude oil prices. The anticipation of a Federal Reserve rate cut and upcoming inventory data are key factors contributing to this potential uptick.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80