Oil Prices Decline with Biden's Withdrawal and Fed Rate Cut Prospects Oil prices fell on Monday following President Joe Biden’s announcement that he will not seek re-election. Brent crude and U.S. West Texas Intermediate crude futures both saw declines, with market analysts suggesting that the potential for rate cuts could impact oil demand. Despite Biden’s exit not being a major factor for oil markets, the broader economic implications of high interest rates and potential recession risks continue to weigh on investor sentiment. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Gold Gains 0.7% with Market Eyes on Key U.S. Inflation Report READ MORE In Response to a Steady Fed, Southeast Asia Adjusts Rates to Safeguard Currencies READ MORE Eastern Gold Rush: How Chinese Traders Are Reshaping the Global Bullion Market READ MORE Gold Breaks New All-Time Highs – Is Silver Next? READ MORE As Dollar Rises, China's Central Bank Continues Gold Buying Spree READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment