Oil Prices Rise Amid Fed Rate Cut and Middle East Tensions

U.S. interest rate cut boosts oil prices despite concerns over weak demand from China and escalating conflicts in the Middle East.

Oil prices are on track to end higher for the second consecutive week following a significant U.S. interest rate cut.
Brent crude futures gained 4.3% this week, while U.S. crude futures increased by 4.8%, recovering from near three-year lows.
The U.S. Federal Reserve cut interest rates by 50 basis points, aiming to stimulate economic activity and energy demand.
Rising tensions between Israel and Hezbollah, with recent explosions in Lebanon, have added to market uncertainties.
Weak demand from China's slowing economy continues to weigh on oil prices, with refinery output and industrial growth declining.