West Texas Intermediate (WTI) US Crude Oil recovered to $75.50 per barrel in thin market trading on Thursday, regaining recently-lost ground as energy traders try to shake off looming oversupply threats to focus on rising hopes of a Federal Reserve (Fed) rate cut in the third quarter.
WTI continues to recover ground as rate cut hopes bolster appetite. Crude Oil markets face further challenges as oversupply risks remain.
, are poised to phase out voluntary production caps that have kept north of 2.2 million barrels per day out of global supply lines.
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