WTI bounces back to near $77 on upside risks to widening Middle East woes

Oil News

WTI bounces back to near $77 on upside risks to widening Middle East woes
WTIInflationPMI
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West Texas Intermediate (WTI), futures on NYMEX, rebound to near $77.00 in Monday’s European session after plunging to near $76.00 on Friday.

The Oil price recovers to near $77 on fresh supply concerns after Iran-backed Hezbollah’s rocket strike on Golan Heights. Caixin Manufacturing PMI for July and the Fed ’s policy meeting will guide the next move in the Oil price. The Fed is expected to deliver dovish guidance on interest rates. West Texas Intermediate , futures on NYMEX, rebound to near $77.00 in Monday’s European session after plunging to near $76.00 on Friday.

refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

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