Oil Futures Dip Amid Geopolitical and Hurricane Concerns

On July 8, 2024, oil futures dipped amid geopolitical concerns and Hurricane Beryl’s impact. WTI crude for August fell 1.00%, closing at $82.33 per barrel. Brent crude dropped 0.91%, settling at $85.75 per barrel. The oil market reacted to a stronger U.S. dollar, making oil more expensive for holders of other currencies. Optimism about ceasefire […]