Commodities Analysis by Shane Neagle covering: Chevron Corp, Citigroup Inc, Exxon Mobil Corp, Brent Oil Futures. Read Shane Neagle's latest article on Investing.com
as uncertainty looms over the timing and impact of peak rates on energy demand.
"The oil rally is taking a little break as every trader awaits a pivotal Fed decision that might tilt the scales of whether the U.S. economy has a soft or hard landing," according to Edward Moya, Senior Market Analyst at data and analytics firm OANDA. “We continue to think that the FOMC will ultimately decide in November that it has made enough progress in the inflation fight to leave the funds rate unchanged,” Goldman Sachs economists wrote in their FOMC meeting preview.
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