Oil Updates – prices rise as investors weigh Red Sea attacks, US rate cut outlook

Oil Updates – prices rise as investors weigh Red Sea attacks, US rate cut outlook

NEW DELHI  Oil prices regained some ground in Asian trade on Wednesday amid concerns over attacks on shipping in the Red Sea and growing expectations that cuts to US interest rates will take longer than thought, according to Reuters.

Brent crude futures rose 24 cents or 0.3 percent to $82.58 a barrel by 10:21 a.m. Saudi time, while US West Texas Intermediate crude futures were up 21 cents or 0.3 percent at $77.25. Oil Updates – prices rise as investors weigh Red Sea attacks, US rate cut outlook