Oil inches higher as traders await Jerome Powell’s speech
Oil prices on track for second weekly gain as US Fed is divided over further interest rate cuts
23 August 2019 - 08:33
Singapore — Oil prices clawed back the previous day’s losses on Friday, with Brent nudging above $60 a barrel, as tighter supplies from producers offset slowing demand growth and investors await clues on the US Federal Reserve’s monetary policy.
Brent crude rose 9c to $60.01 a barrel by 4.22am GMT, and US crude futures were at $55.38 a barrel, up 3c. Both contracts were on track for a second week of gains...
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