Oil Prices Rebound Amid Fed Rate Cut Hopes and OPEC+ Moves

Crude oil futures rebounded after a five-session losing streak due to renewed hopes for a September interest rate cut by the Federal Reserve, which outweighed concerns about demand following a build in U.S. crude and fuel stocks. U.S. Treasurys rallied as private payrolls data showed a slowdown in hiring, increasing the likelihood of a Fed rate cut. Major oil benchmarks and natural gas futures saw gains, despite the unexpected build in crude stocks reported by the U.S. Energy Information Administration.