West Texas Intermediate (WTI) Oil price trades around $81.20 per barrel, hovering around its monthly low of $81.05, marked on Thursday.
WTI Oil price depreciates on de-escalated geopolitical tensions in the Middle East. US House passed new sanctions on Iran’s oil sector set to become part of a foreign-aid package. The hawkish sentiment surrounding the Fed’s monetary policy puts pressure onthe crude Oil’s outlook. West Texas Intermediate Oil price trades around $81.20 per barrel, hovering around its monthly low of $81.05, marked on Thursday.
On the demand side, the outlook for crude Oil is influenced by expectations regarding US monetary policy. The Federal Reserve's indication that it may keep interest rates higher for longer, driven by concerns about persistent inflation, can affect the price of Oil. Higher interest rates tend to strengthen the US dollar , making Oil more expensive for countries using other currencies, which can dampen global demand and contribute to lower prices.
WTI Macroeconomics Commodities
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