Oil rebounds as investors eye Fed rate move and Venezuela tensions
Energy prices inch up amid global uncertainty
Oil prices rose modestly on Friday as markets bet on a potential interest-rate cut by the Federal Reserve (Fed) and watched rising geopolitical tensions involving Venezuela. The benchmark West Texas Intermediate (WTI) was up and heading for a weekly gain, while Brent crude held near previous levels despite slight dip. Traders said the combination of a weakening dollar, expected rate shifts and supply risks kept demand for oil steady.
Conflicts in Venezuela, where export disruptions loom, add upside risk for oil prices. Analysts say even a small shift in investor sentiment can drive price swings given current unease about global demand and supply bottlenecks. The oil rally also reflects broader market expectations that central banks may soon ease monetary policy. For energy-heavy sectors and import-reliant economies, such swings could influence inflation and trade balances.
