“U.S. oil rises nearly 2% to top $83 a barrel as slowing manufacturing raises interest rate cut hopes”
May 1, 2024
“U.S. crude oil moved nearly 2% higher Tuesday to top $83 a barrel on optimism that weak manufacturing data could accelerate interest rate cuts.
U.S. manufacturing activity hit a four month low of 49.9 in April, according to the S&P Global Flash U.S. Composite PMI. A reading below 50 indicates that activity is contracting…”
https://www.cnbc.com/2024/04/23/crude-oil-prices-today.html
The fed is not going to cut interest rates. I was one of the very first people to say this.