Oil prices head for 2% weekly gain as Fed hopes boost market, Venezuela tensions loom

Core Viewpoint - WTI oil prices are projected to achieve weekly gains of nearly 2% due to factors such as anticipated Federal Reserve interest rate cuts, rising tensions between the U.S. and Venezuela, and stalled peace negotiations [1] Group 1: Market Influences - The expected Federal Reserve interest rate cut is contributing to the upward pressure on oil prices [1] - Escalating tensions between the U.S. and Venezuela are impacting market sentiment and oil supply dynamics [1] - Stalled peace negotiations are also influencing the oil market, potentially affecting supply stability [1]