Oil Jumps 2% During Fed Jackson Hole Meeting

WTI crude rose more than 2% as the Fed delivered its Jackson Hole meeting. Stocks, bonds, and gold prices rose during the meeting, as the dollar lost some of its strength. Oil prices have been rangebound this week, recovering after the frenzy seen in the first two weeks of August, with ICE Brent settling in a narrow band between $76 and $78 per barrel. Overall sentiment has been improving after the US Federal Reserve’s July meeting notes indicated September would be the most probable date for the much-anticipated interest rate cut. If Jackson…