Brent crude is up 1.55% today, rising for the third day in a row following Federal Reserve Chairman Jerome Powell’s unexpectedly less hawkish statement on Tuesday, which appears to have given risk appetites a bit of a boost. While Brent was trading at $84.99 per barrel on Wednesday at 2:30 p.m. EST, with WTI up 1.
58% at $78.36, sentiment is that with a weakening U.S. dollar, dollar-dominated oil will be cheaper for buyers with other currencies. On Tuesday, Powell said he saw indications that inflation is cooling. That statement came just…Oil Up For 3rd Day In a Row As Fed Proves Less Hawkish
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