On September 17, 2024, at 6:45 PM ET, Carl Surran, News Editor at Seeking Alpha, reported that crude oil futures saw an increase on Tuesday. This rise in futures is attributed to escalating tensions in the Middle East, coupled with the anticipation that the Federal Reserve may implement an interest rate cut, which could potentially bolster oil demand.
Investors are currently focusing on the Federal Reserve’s upcoming decision regarding interest rates, expected to be announced on Wednesday. This decision is being closely watched due to its potential implications on the oil market and broader economic conditions. The increased geopolitical instability and the prospect of lower interest rates are key factors contributing to the recent upward movement in crude oil prices.