Crude Oil Futures

  The price of crude oil experienced a slight uptick before the weekend, potentially influenced by the unexpected U. S. interest rate cut and escalating tensions in the Middle East. The recent Israeli attack on Lebanon, utilizing pagers, significantly intensified regional tensions, raising fears of an imminent war. Although skirmishes have persisted between Israel and Hezbollah for nearly a year, a major escalation was averted despite the loss of key Hezbollah commanders. Saturday night witnessed a tit-for-tat exchange of bombings and missile attacks. On the economic front, the Federal Reserve's interest rate cut has alleviated concerns about a U. S. recession. Lower interest rates encourage borrowing, stimulating business investment and consumer spending. Additionally, a weaker U. S. dollar makes oil more affordable for non-U. S. currency holders, increasing demand. However, short-term oil price concerns remain, as evidenced by the modest price increase. The gl