Oil prices rise with anticipation of a reduction in interest rates

Oil prices rose in early trading today, Monday, with investors anticipating the reduction in interest rates expected to begin next September.Brent crude prices rose 48 cents, equivalent to 0.57 %, to $83.10 per barrel, while US West Texas Intermediate crude futures rose 42 cents, equivalent to 0.52 %, to $80.55.The US Federal Reserve is scheduled to hold a Federal Open Market Committee meeting on interest rates on July 30-31, and investors expect the central bank to keep interest rates unchanged, while looking forward to any sign of lowering them later in the year.Source: National Iraqi News Agency