Oil prices extended overnight gains on Tuesday amid widespread expectations the ...
TOKYO - Oil prices extended overnight gains on Tuesday amid widespread expectations the U.S. Federal Reserve will cut interest rates for the first time in more than a decade this week.
Brent crude LCOc1 rose 30 cents, or 0.5%, to $64.01 a barrel by 0013 GMT, after gaining 0.4% the previous session.Crude futures are “well bid on the back of rising expectations of a rate cut in the U.S.,” ANZ Research said in a morning note, adding that optimism over Sino-U.S. trade talks and Middle East tensions are also supporting prices.
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