Oil Prices Rise as Investors Look for Signs of US Rate Cuts

Oil prices rose in early trade on Monday as investors keep a lookout for signs of a rate-cut cycle expected to begin as soon as September. Brent crude prices were up 48 cents, or 0.57%, at $83.10 a barrel, and U.S. West Texas Intermediate crude futures rose 42 cents, or 0.52%, to $80.55. The US Federal Reserve will next hold a Federal Open Market Committee (FOMC) meeting on interest rates on July 30-31, at which investors expect the Fed to keep the rates unchanged, while looking for any signal of a cut coming later in the year. Source: Qatar News Agency