Russ Cohen

Oil Prices Surge Despite Lingering China Concerns
Oil Prices Surge Despite Lingering China Concerns


Oil Market Overview

Sep. 20, 2024 7:50 PM ET
United States Oil Fund, LP ETF (USO), CL1:COM
CEG, OII, UCO, XLE, and more

Data analyzing in commodities energy market: the charts and quotes on display. US WTI crude oil price analysis. Stunning price drop for the last 20 years.

SlavkoSereda/iStock via Getty Images

Oil prices surged last week, despite closing lower on the final trading day. The week was marked by a substantial interest rate cut by the Federal Reserve and a renewed escalation of tensions in the Middle East.

“The softer monetary policy enacted by the Federal Reserve initially bolstered the oil market. However, renewed concerns surrounding China’s economy have cast a shadow on the recent gains,” said an industry expert.


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