Oil prices rose in the first reaction to the US interest rate cut

Oil prices at the close of trading on Wednesday, after the The Federal Reserve reduced The key interest rate increased by a quarter of a percentage point to support the slowing labor market.
The price of Brent crude futures rose by about 0.67% to close at $62.41 per barrel.
While West Texas Intermediate crude futures rose by 0.44% to reach $62.21 per barrel upon settlement.
An interest rate cut usually enhances economic activity, which raises expectations of demand for oil.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter