Commodities Analysis by Investing.com (Barani Krishnan) covering: USD/CNY, Brent Oil Futures, Crude Oil WTI Futures, US Dollar Index. Read Investing.com (Barani Krishnan)'s latest article on Investing.com
ready for rate decisions this week, oil longs seem to have only concern: Keeping a barrel above $90 and adding to the gains thus far for September.
The U.S. crude benchmark hit $91.15 last week, its highest since November. For the week, WTI also finished last week up 3.7%, adding to prior back-to-back weekly gains of 2.3% and 7.2%.The global crude benchmark hit a 10-month high of $94.62 last week. Brent finished last week up 3.6%, adding to prior back-to-back weekly gains of 2.4% and 4.8%.
But what Chairman Jerome Powell says at his news conference on Wednesday will be closely watched for clues on Fed think for the rest of the year, especially with two more policy meetings on the schedule for November and December.rose a second month in a row in August, reaching a year-on-year growth of 3.7% from 3.2% in July.
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