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Brent settled down 39 cents at $74.49 a barrel and WTI fell 3 cents to $71.92 at the end of a week of trading. Prices had risen more than 1% on the prior Thursday after the Federal Reserve cut interest rates by half a point.
A weaker dollar after the Fed cut supports dollar-priced energy, but the small weekly moves show crude is still driven by demand and supply factors rather than rates, so feed-cost effects are limited.
reuters.comGeorgina MccartneySep 20, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
