{"id":8299,"date":"2023-11-01T21:10:44","date_gmt":"2023-11-01T21:10:44","guid":{"rendered":"https:\/\/infundpros.com\/markets\/commodities\/brent-and-wti-oil-futures-rise-as-us-federal-reserve-maintains-high-interest-rates\/"},"modified":"2023-11-01T21:10:45","modified_gmt":"2023-11-01T21:10:45","slug":"brent-and-wti-oil-futures-rise-as-us-federal-reserve-maintains-high-interest-rates","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=8299","title":{"rendered":"Brent and WTI oil futures rise as US Federal Reserve maintains high interest rates"},"content":{"rendered":"
\n

and West Texas Intermediate (WTI) experienced a surge today, climbing to $85.19 and $81.08 respectively. The rise is attributed to the US Federal Reserve’s decision to maintain high interest rates, a move which could potentially slow down US economic growth and subsequently decrease demand.<\/p>\n

On the Multi Commodity Exchange (MCX), crude oil futures for November and December traded at \u20b96,767 and \u20b96,752 respectively. In contrast, took a downward turn, falling to \u20b9299.70.<\/p>\n

The American Petroleum Institute (API) reported a less-than-forecasted increase in US crude oil inventories, with an additional 1.34 million barrels noted this week. This smaller increase could indicate a tightening supply-demand balance in the market.<\/p>\n

Meanwhile, China’s Manufacturing Purchasing Managers Index (PMI) fell to 49.5 today, suggesting a potential decline in China’s crude oil consumption due to weaker manufacturing activity. The PMI is an indicator of economic health for manufacturing and service sectors; a reading below 50 signals contraction.<\/p>\n

In other commodities news on the National Commodities and Derivatives Exchange (NCDEX), November contracts for jeera fell to \u20b943,300 while December futures for turmeric rose to \u20b913,526. These shifts demonstrate the diverse impacts of global economic conditions on commodity prices.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

and West Texas Intermediate (WTI) experienced a surge today, climbing to $85.19 and $81.08 respectively. The rise is attributed to the US…<\/p>\n","protected":false},"author":1,"featured_media":8300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":{"0":"post-8299","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-commodities"},"yoast_head":"\nBrent and WTI oil futures rise as US Federal Reserve maintains high interest rates | inFundPros<\/title>\n<meta name=\"description\" content=\"and West Texas Intermediate (WTI) experienced a surge today, climbing to $85.19 and $81.08 respectively. 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