<\/p>\n
West Texas Intermediate (WTI), futures on NYMEX, rises further to $78.50 in Monday\u2019s New York session. The Oil price rises even though investors expect that the Federal Reserve<\/a> (Fed) will consider reducing interest rates from the current levels in the last quarter of this year.<\/p>\n Market speculation for Fed rate cuts has shifted to the last quarter from the September meeting as policymakers want the continuation of current policy framework for a longer period until they get evidence that inflation will sustainably return to the desired rate of 2%. Fed officials emphasize keeping the policy framework restrictive despite the slowdown in price pressures in April suggested by the Consumer Price Index (CPI) report of the same month.<\/p>\n Historically, easing Fed rate-cut prospects is an unfavorable situation for the Oil price as higher interest rates reduced flow of liquidity into the economy, which weakens the OIL demand outlook<\/a>.<\/p>\n This week, investors will focus on the United States<\/a> core Personal Consumption Expenditure price index (PCE) data for April and the Eurozone<\/a> preliminary inflation data for May, which will influence speculation for rate cuts by the Fed and the European Central Bank<\/a> (ECB), respectively, which will be published on Friday.<\/p>\n The ECB is expected to begin cutting key borrowing rates in June, while investors doubt whether policymakers will follow the dovish decision in the July meeting, too.<\/p>\n On the supply front, investors will focus on the OPEC+ meeting that is scheduled for June 2. Investors will focus on whether oil-rich nations will change the current output cut of 2.2 million barrels for data.<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" WTI jumps to $78.50 with a focus on global inflation data. The Fed is expected to announce rate cuts in the last quarter of this year. Investors will focus on the OPEC+ meeting to know about any change in the oil supply policy. West Texas Intermediate (WTI), futures on NYMEX, rises further to $78.50 in […]<\/p>\n","protected":false},"author":2,"featured_media":6011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,825,366,255,250,683,797,252,247,253,249,256,254,664],"class_list":["post-310861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-ecb","tag-fed","tag-gta","tag-looks-rare","tag-oil","tag-opec","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress","tag-wti"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/310861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=310861"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/310861\/revisions"}],"predecessor-version":[{"id":310864,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/310861\/revisions\/310864"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/6011"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=310861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=310861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=310861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}