In the wake of U.S. Federal Reserve Chair Jerome Powell’s recent comments suggesting the end of the aggressive rate hikes that dominated 2023, oil prices have seen a notable boost. Powell’s speech at the Jackson Hole Economic Symposium today hinted at a potential rate cut in the near future, a move that would ease borrowing costs and likely stimulate economic activity. This has led to a surge in market optimism, with both WTI and Brent crude prices climbing significantly. WTI crude is currently trading at $74.48 per barrel, marking a 2.01% increase,…
