Oil trades near two-month high on summer demand outlook, possible rate cut

Beijing, July 2 (BNA):  Oil prices were little changed on Tuesday, holding near the two-month highs reached in the previous session, on expectations for rising fuel demand from the summer travel season and possible U.S. interest rate cuts that could boost economic growth.

Brent crude futures rose 20 cents to $86.80 per barrel as of 0313 GMT after gaining 1.9% in the previous session to the highest close since April 30, Reuters.

U.S. West Texas Intermediate (WTI) crude rose 15 cents to $83.53 a barrel, after gaining 2.3% to its highest since April 26.


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