Oil Prices Start the Week With a Gain as Biden Drops Out of Presidential Race

Crude oil prices started trading with a gain this week on hopes of a rate cut, bouncing back after posting a second consecutive weekly loss on Friday. The biggest news to start the week however is President Joe Biden’s announcement that he will end his bid for a second term. “Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it’s time to come together and beat Trump. Let’s do this,” Biden said on X. According to a Bloomberg report,…