The Fed last Tuesday cut the Fed funds rate by 75 basis points to 3.5 per cent. Renewed hopes for a cut resulted from a US goverment data that showed domestic sales of new single-family homes fell a record 26 per cent last year.
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Oil Prices Rose Above $91
Oil held above $91 a barrel on Tuesday, as a fragile U.S. economy is likely to herald a fresh cut in interest rates
Oil held above $91 a barrel on Tuesday, as a slowing U.S. economy is likely to cause a fresh cut in interest rates.
US crude ticked up 5 cents to $91.04 a barrel by 0126 GMT, following a modest gain of 28 cents a day ago in tandem with the gains in U.S. stocks.
The Fed last Tuesday cut the Fed funds rate by 75 basis points to 3.5 per cent. Renewed hopes for a cut resulted from a US goverment data that showed domestic sales of new single-family homes fell a record 26 per cent last year.
The Fed last Tuesday cut the Fed funds rate by 75 basis points to 3.5 per cent. Renewed hopes for a cut resulted from a US goverment data that showed domestic sales of new single-family homes fell a record 26 per cent last year.
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