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 Record Gold Rally Hits Pause as U.S. Treasury Yields Climb READ MORE Zimbabwe Keeps Interest Rate at 20%, Predicts Inflation Below 5% by Year-End READ MORE Warning Signs: Recent Bank Failures and the Fragile Global Financial System READ MORE First Fed Rate Cut Expected by Economists in June READ MORE Gold's Disconnect from Dollar and Yields Raises Questions for Wealth Managers READ MORE Add a Comment Cancel replyYour email address will not be published.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