U.S. Oil Prices Rise as Manufacturing Slows

U.S. Oil Prices Rise as Manufacturing Slows

well first up you looks oil prices Rose
yesterday in response to hopes that
interest rate Cuts could be on their way
according to the S&P flash us
manufacturing survey did show that
American manufacturing fell to a 4mon
low in March with a read of
49.9 well a reading below 50 does
suggest the economy is Contracting which
could push the FED to cut rates sooner
rather than wait for later in the year
at the close on Tuesday crude oil was
$83 a barrel that’s below this year’s
Peak price of about
$87 a barrel and so far oil prices
haven’t reacted strongly to the
additional sanctions placed on Iran one
of the world’s biggest oil producers but
if passed the us could sanction foreign
facilities that are known to produce
Iranian oil and if fully implemented
that could raise Energy prices but the
president would retain the ability to
wave the sanctions

U.S. oil prices rose yesterday in response to hopes that interest rate cuts could be on their way. According to the S&P flash U.S. manufacturing survey showed American manufacturing fell to a four month low in March, with a reading of 49.9. A reading below 50 suggests the economy is contracting, which could push the Fed to cut rates sooner rather than wait for later in the year.