West Texas Intermediate (WTI) US crude Oil prices attract some dip-buyers on the first day of a new week and remain well within the striking distance of a two-month peak touched on Friday.
WTI regains positive traction on Monday and stalls its corrective slide from a two-month top. Forecasts of a peak summer fuel demand and
+ cuts in the third quarter could lead to a global oil market supply deficit, which, in turn, is seen as a key factor acting as a tailwind for Crude Oil prices. Meanwhile, the US Personal Consumption Expenditures Price Index released on Friday confirmed the disinflationary trend and lifted bets for a September interest rate cut by the Federal Reserve . This drags the US Dollar away from a two-month peak touched on Friday and lends additional support to the commodity.
influence the price of WTI Oil? decides to lower quotas, it can tighten supply, pushing up Oil prices. When
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