Oil up on Fed rate cut expectations

Singapore, June 6 (BNA):  Oil prices rose for a second consecutive session on Thursday amid growing expectations the Federal Reserve will cut interest rates in September, but the upside was capped by higher U.S. inventories and an OPEC+ plan to increase supply.


Brent crude futures traded at $78.74 a barrel by 0645 GMT, up 33 cents or 0.42%, Reuters reported.


U.S. West Texas Intermediate crude futures was at $74.46, up 39 cents or 0.53%.




M.I.






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