{"id":40480,"date":"2024-04-30T11:33:43","date_gmt":"2024-04-30T11:33:43","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts"},"modified":"2024-04-30T12:21:33","modified_gmt":"2024-04-30T12:21:33","slug":"oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts","title":{"rendered":"Oil prices rise amid Middle East cease-fire talks, uncertainties over US Fed rate cuts"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>Oil prices increased on Tuesday amid doubts of a full cease-fire between Israel and Hamas and ongoing uncertainties over the timing of the US Federal Reserve\u2019s (Fed) interest rate cuts.<\/p>\n

International benchmark Brent crude traded at $87.34 per barrel at 10.36 a.m. local time (0736 GMT), a 0.16% increase from the closing price of $87.20 per barrel in the previous trading session.<\/p>\n

The American benchmark West Texas Intermediate (WTI) traded at $82.79 per barrel at the same time, a 0.19% rise from the previous session that closed at $82.63 per barrel.<\/p>\n

On Monday, US Secretary of State Antony Blinken joined a six-way Arab ministerial meeting in Riyadh, Saudi Arabia, to discuss the Gaza Strip cease-fire.<\/p>\n

The meeting explored the importance of reaching an immediate and sustainable cease-fire in the region, ensuring the protection of civilians, and facilitating access to humanitarian aid to the Gaza enclave.<\/p>\n

Following the discussions, the Israeli delegation intends to travel to Egypt to meet with Egyptian security officials to discuss cease-fire efforts in Gaza, according to Israeli media.<\/p>\n

Although Israeli government officials are refusing to agree to a full cease-fire and are continuing their attacks in the region, Hamas is insistent on a comprehensive cease-fire in Gaza. These disagreements and the uncertainty surrounding the possibility of a full cease-fire are driving up oil prices in a region that is home to major oil trade routes and where supply risks are expected to persist.<\/p>\n

Meanwhile, uncertainties over when the US Federal Reserve (Fed) will start interest rate cuts continue to influence oil prices.<\/p>\n

Analysts predict that the Fed will leave the policy rate unchanged for now, but the probability of the bank starting a rate cut stands at 11% for June, 30% for July, and 58% in September.<\/p>\n

The possibility of a rate cut would limit further price increases, as generally high interest rates boost the value of the US dollar, making oil more expensive for holders of other currencies.<\/p>\n

The increasing value of the US dollar against other currencies also curtailed further price rises by making oil expensive for other currency holders. The US dollar index rose to 105.86, a fall of 0.27%.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. Oil prices increased on Tuesday amid doubts of a full cease-fire between Israel and Hamas and ongoing uncertainties over the timing of the US Federal Reserve\u2019s (Fed) interest rate cuts. International benchmark Brent crude traded at $87.34 per barrel at 10.36 a.m. local time (0736 GMT), a 0.16% increase from the closing […]<\/p>\n","protected":false},"author":84,"featured_media":40479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,245,2704,241,2705,2721],"class_list":["post-40480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mauritius","tag-brent","tag-mauritius","tag-oil","tag-west-texas-intermediate"],"yoast_head":"\nOil prices rise amid Middle East cease-fire talks, uncertainties over US Fed rate cuts - Mauritius<\/title>\n<meta name=\"description\" content=\"Oil prices increased on Tuesday amid doubts of a full cease-fire between Israel and Hamas and ongoing uncertainties over ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil prices rise amid Middle East cease-fire talks, uncertainties over US Fed rate cuts\" \/>\n<meta property=\"og:description\" content=\"Oil prices increased on Tuesday amid doubts of a full cease-fire between Israel and Hamas and ongoing uncertainties over ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-30T11:33:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-30T12:21:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/04\/sm_1714463284.396502.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil prices rise amid Middle East cease-fire talks, uncertainties over US Fed rate cuts\",\"datePublished\":\"2024-04-30T11:33:43+00:00\",\"dateModified\":\"2024-04-30T12:21:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts\"},\"wordCount\":372,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/04\/sm_1714463284.396502.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Brent\",\"Mauritius\",\"oil\",\"West Texas Intermediate\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/oil-prices-rise-amid-middle-east-cease-fire-talks-uncertainties-over-us-fed-rate-cuts\",\"name\":\"Oil prices rise amid Middle East cease-fire talks, uncertainties over US Fed rate cuts - 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