U.S. Oil Prices Rise as Manufacturing Slows

  • 3 months ago
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.