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Oil Holds Steady With Middle East Tensions, Fed Outlook in Focus [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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Most Read from Bloomberg US Yields Spike as Hawkish Powell Puts 5% in Play: Markets Wrap Dubai Grinds to Standstill as Cloud Seeding Worsens Flooding China Tells Iran Cooperation Will Last After Attack on Israel What If Fed Rate Hikes Are Actually Sparking US Economic Boom? Powell Signals Rate-Cut Delay After Run of Inflation Surprises West Texas Intermediate traded above $85 a barrel after ending little changed on Tuesday, while global benchmark Brent closed just above $90. Israel is vowing to respond against Tehran for the unprecedented drone and missile attack, although the US and Europe have urged restraint. Crude has surged this year as geopolitical risks in the Middle East and Russia, as well as OPEC+ output cuts, pushed prices higher. Fresh comments on Tuesday from Federal Reserve Chair Jerome Powell signaling policymakers will wait longer than previously anticipated to cut interest rates, however, is likely to be a headwind. Crude stockpiles were also in focus
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