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Heard on the Street Tuesday Recap: Riding the Wind

·1 min

Brent crude prices reached a peak of $87.44 a barrel before settling at $86.24 on concerns about Hurricane Beryl hitting the Caribbean. The storm’s early timing increases the likelihood of an active 2024 hurricane season, possibly impacting the U.S. oil patch. Federal Reserve Chair Jerome Powell expressed satisfaction with the decrease in inflation but did not explicitly mention any rate cuts for September.