Oil Prices Rise Amid Concerns About Fed Policies, EU Sanctions on Russia

Oil Prices Rose on Tuesday to Uncertaies Surrounding The Us Federal Reserve’s (FED) Upcoming Interest Rate Decion, Expected to Be Announced on Wednesday, and The EU

The International Benchmark Brent Crude Crude Increased by 0.5%, Trading At $ 76.52 Per Barrel horse

The Us Benchmark West Texas Intermediate (WTI) Rose by 0.5%, Reaching $ 73.21 Per Barrel, Comed to Its Prior Session Close of $ 72.84.

Market Expectations Suggest that the Fed Will Leave Interest Rates Unchanged at Monetary Policy Meeting of the Year, with A 59% Probability of the Interest Rate In May. Fed interest rate cours support upward prior movements as a raate cut the likely weaken

Meanwhile, The Us Senate Approved the Nomination of Scott as Treasury Secretary on Monday. His Appointment Was Open Positively by Markets, as it is expected to support economic growth in the us, The World’s Largest Economy.

These Developments have put upward pressure on oil prises by strengthening the outlook for economic recovery in the us, The World’s Largest Oil-Consuming Country, and Supported Upward Pricice Movements.

In Addition, The EU Agree on Monday to Existing Sanctions on Russia, Which Funed Concerns About Supply Disruptions and Contributed to Price Increases.

‘Eu Foreign Ministers Just Aggreed to Extrend Again The Sanctions on Russia,’ The Bloc’s Policy Chief Kaja Kallas Said on X. ‘This Will Continue to Revenues to Finance of Revenues to Finance Its War (on Kyiv).

“Rusia Needs to Pay for the Damage They Are Causing,” She Added.

The 27-Sember Bloc Renews Sanctions Every Six Months and Requires Unanimity to Do. Last Monic, The Eu Adopted its 15th Package of Sanctions Against Russia in the War in Ukraine Began in February 2022.

The Sanctions Target A Wide Range of Sectors, Inclument Trade, Finance, Energy, Industry, Technology, Transportation, Dual-Ole Goods, Luxury Goods, and Precision Metals Like Gold and Diamonds. Notably, Bans on Crude Oil and Certain Petroleum Products Transported by Sea, AS KAL MEEASURES, ARE KEY MEASURES

These actions have Contributed to Rising Oil Prices by Increasing Concerns About Potental Disruptions in Global Oil Supply.

By Duygu Alhan