💨 Abstract

Oil prices slightly rose on Monday, buoyed by a cut in U.S. interest rates and a dip in U.S. crude supply due to Hurricane Francine, but weaker demand from China is limiting the upside. Oil prices rose more than 4% last week. The market will look to economic direction from Europe and the U.S. for guidance, with a potential downward pressure on oil prices if PMI releases disappoint.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖