Oil Prices Set to End the Week With a Rare Gain

Crude oil prices are on track to end the week with a rare gain for the past few months, supported by the Fed’s decision to cut the key interest rate by 0.5%. Both Brent crude and West Texas Intermediate dipped slightly earlier today, in midmorning Asian trade, but look set to end the week higher than they started, with WTI rising from about $69 per barrel to close to $72 per barrel at the time of writing. Brent crude looked set to gain about $2 per barrel over the week. Oil prices also got support from U.S. crude oil inventories, which fell…