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Oil Futures Gain on Dovish Fed Ahead of US Q2 GDP Reading

dtnpf.com
 2021-07-29

WASHINGTON (DTN) -- Nearby delivery month oil futures on the New York Mercantile Exchange and Brent crude traded on the Intercontinental Exchange pushed higher in early trade Thursday, supported by a weakening U.S. dollar and rallying equities as investors are emboldened by the Federal Reserve's dovish stance on fiscal stimulus and accelerated economic growth in the second quarter, with expectations for lingering effects of accommodative monetary policy combined with strong consumer demand to continue to fuel growth.

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