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Commodities

Oil Prices Soar Ahead of Fed Rate Decision

Guavy AI Editorial Team
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Oil
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Oil prices surged at the start of the week, with Brent crude and West Texas Intermediate futures rising more than 2% ahead of the Federal Reserve's policy decision.

The Fed is set to announce its latest interest rate decision on Wednesday, with markets closely watching for signals on monetary policy.

Brent was trading at $106.8 per barrel and WTI at $102.2 as of 0630GMT on Monday, with both benchmarks extending recent gains amid growing concerns that escalating energy costs could complicate the central bank's inflation fight.

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