Oil Prices Fluctuate Amid Fed Rate Decisions and Middle East Tensions

Federal Reserve's delayed rate cuts and ongoing Gaza ceasefire talks impact oil market dynamics.

Brent crude and WTI futures experienced mixed movements due to economic and geopolitical factors.
The Federal Reserve postponed potential interest rate cuts to December, affecting market expectations.
Increased US crude and fuel stockpiles contributed to oil price volatility.
Middle East tensions, particularly regarding Gaza, influenced investor sentiment and risk calculations.
Long-term forecasts from major energy agencies predict limited downside for oil prices in the latter half of 2024.