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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![[Morning] Narrow fluctuations before data release](/_next/image?url=https%3A%2F%2Fproduction-app-asset.traderknows.com%2Foriginal_images%2Fc38c2d9a3893448eb897eff5b8137bd3.png%3FExpires%3D1724646104%26Signature%3DtDEOjbBZyGgvrhH768M6B4yCIGxH30l64UD355qr2zNvT41ESqAMdl-fnqB5G8uswt4SghoRqEnFPzbscgMMbS7ymZKAg9TNdZWVLXYt8IbsTdKo1MGyZGiPEkjNVMTI~nr26nKz18y1vddrnFpWheVCXKnXUn6lzx7SfKg-pbGeNAL~-E8TMzBZjKnJ6lPSsMsSRS-GKyOtd7wO0OXJ7O~jBWo9w7bf2gbJyeYovU-EFb8E5wtO~4TNjC6iBoGaANjhmlF7I5piTBNURRcrkWHfU3Jq4AhbpLbHv~xcBJMRN~PLfaoxdFG~78G4nq3Xh5bQpYRTj~4i0YHHLNbrdQ__%26Key-Pair-Id%3DK3LHBTUA5A7KEY&w=640&q=75 "[Morning] Narrow fluctuations before data release")
