Oil prices rose by almost 1 percent on Tuesday, lifted by a weak dollar, tensions in the Middle East and concerns of a further fall in Venezuelan output. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $62.59 a barrel at 0656 GMT, up 53 cents, or 0.9 percent, from their previous close. Source: Reuters
The United States has sanctioned the China’s state-run energy company Zhuhai Zhenrong Co Ltd for allegedly violating restrictions imposed on Iran’s oil sector, U.S. Secretary of State Mike Pompeo said in a speech on Monday. Source Reuters
“With almost no inflation, our Country is needlessly being forced to pay a MUCH higher interest rate than other countries only because of a very misguided Federal Reserve,” the president wrote on Twitter. Source Business Insider
An economist tapped by U.S. President Donald Trump for a governorship at the Federal Reserve called for a sharp interest rate cut at the central bank’s policy meeting next week, the Washington Post reported on Monday. Source Reuters
