There is a 38.2% probability that the Federal Reserve will cut interest rates in September
According to CME "FedWatch" reported by Jinse Finance: there is a 61.8% probability that the Federal Reserve will keep interest rates unchanged in September, and a 38.2% probability of a 25 basis point rate cut. For October, there is a 39.4% probability that rates will remain unchanged, a 46.8% probability of a cumulative 25 basis point rate cut, and a 13.9% probability of a cumulative 50 basis point rate cut.
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U.S. commercial crude oil inventories fell more than expected, with distillate inventories also declining and gasoline unexpectedly rising.
According to EIA data released on Thursday, for the week ending October 9, U.S. commercial crude oil inventories decreased by 8.6 million barrels to 415.6 million barrels, about 3% below the five-year average for the same period. Crude oil production fell by 300,000 barrels per day, and imports dropped by 791,000 barrels per day. Refinery crude runs increased by 135,000 barrels per day. Gasoline inventories rose by 3.5 million barrels, exceeding expectations, while distillate fuel inventories (including diesel and heating oil) decreased by 2.5 million barrels. The decline in crude inventories was mainly due to production shutdowns and reduced imports caused by a Gulf of Mexico hurricane.
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