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The summer peak season effect and sudden changes in global politics boost oil futures📊

The summer peak season effect and sudden global political changes are boosting oil futures 📊

💬 WTI crude oil surged 2.2% to $77.4 per barrel, reaching its highest level in over a week. Investors are closely watching the Federal Reserve's interest rate decision and U.S. inflation data. Last week, strong U.S. employment data reduced hopes of a rate cut, impacting economic and energy demand forecasts.

📺 Europe is showcasing a new political drama, with Le Pen winning the EU parliament victory and Macron holding an early re-election. Meanwhile, #OPEC+ will ease production cuts starting in October, continuing until September 2025.

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#UltimaMarkets #News #Trading #MarketTrends #CrudeOil #WTI #USEconomicData #OPEC

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