|
|
Oil extended gains as US passed debt ceiling agreement; possible pause in interest rate hikesInternational benchmarks for crude oil continued to rise on Friday, 2 June 2023 as investors latched on to the optimistic outlook after the US Congress passed the bill to lift the debt ceiling, effectively averting a default. |
|
International benchmarks for crude oil continued to rise on Friday, 2 June 2023 as investors latched on to the optimistic outlook after the US Congress passed the bill to lift the debt ceiling, effectively averting a default. Meanwhile, a moderate increase in job data in the US stirred speculation that the FED might pause interest rate hikes for the first time in more than a year.
Brent added $1.85 or 2.5% to close at $76.13/barrel.
WTI increased $1.64 or 2.3% to settle at $71.74/barrel.
