![Expected US tariff cuts will increase fuel consumption and lead to higher oil prices](https://market-tracker.in/wp-content/uploads/2024/07/images-25.jpg)
Expected US tariff cuts will increase fuel consumption and lead to higher oil prices
Despite concerns about global demand, oil prices rose on Thursday on expectations that a forthcoming US interest rate cut would boost economic activity and boost fuel consumption. Brent oil futures recovered some losses from the previous day, rising 17 cents, or 0.21%, to settle at $79.93 a barrel. U.S. U.S. West Texas Intermediate crude was…