Oil prices experienced a slight increase due to a larger-than-expected decline in U.S. crude oil and fuel inventories, signaling strong demand. Despite this positive sentiment, concerns persist as negotiations to resolve the Russia-Ukraine conflict remain ongoing, potentially impacting Russian oil supplies and leading to further sanctions.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend