Oil edges higher US interest rate cut counters weak demand
Written by Black Hot Fire Network on September 23, 2024
By Arunima Kumar
(Reuters) -Oil prices rose slightly on Monday after last week's cut to U.S. interest rates and a dip in U.S. crude supply in the aftermath of Hurricane Francine countered weaker demand from top oil importer China.
Brent crude futures for November edged up by 14 cents, or 0.19%, to $74.63 a barrel by 0815 GMT. U.S. crude futures for November were up 16 cents, or 0.23%, at $71.16.
Both contracts registered their second consecutive weekly gains last week after the U.S . . .
