Oil Edges Higher as Traders Weigh Rate Cut With Worries Over US Economy
Oil prices edged higher on Thursday after the Federal Reserve cut interest rates as traders weighed the start of looser monetary policy against concerns about the U.S. economy.
Brent crude futures were up 34 cents, or 0.5%, at $68.29 a barrel by 1140 GMT. U.S. West Texas Intermediate futures added 37 cents, or 0.6%, to $64.42.
The Fed cut its policy rate by a quarter of a percentage point on Wednesday and indicated it will steadily lower borrowing costs over the rest of the year, responding to signs of weakness in the jobs market...
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