Oil Prices Start the Week With a Gain on Rate Cut Hopes

Crude oil prices began this week with a gain on expectations that the U.S. Federal Reserve will announce an interest rate cut at its meeting that begins tomorrow and ends Wednesday. Additional support for prices came from the fact that a solid portion of Gulf of Mexico oil production remains shut in following Hurricane Francine. About 25% of oil production and 28% of natural gas production remain shut in after Francine made landfall last Wednesday in Louisiana. News about a possible new attempt on the life of Republican presidential candidate Donald…